Rakuten Securities Inc. acquired a new position in Lucid Group, Inc. (NASDAQ:LCID – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,130 shares of the company’s stock, valued at approximately $106,000.
Other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in shares of Lucid Group by 19.8% in the third quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company’s stock worth $18,453,000 after acquiring an additional 546,676 shares during the period. Bank of New York Mellon Corp boosted its stake in Lucid Group by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 4,215,104 shares of the company’s stock valued at $23,562,000 after buying an additional 410,025 shares during the last quarter. Fulton Bank N.A. boosted its stake in Lucid Group by 46.5% during the fourth quarter. Fulton Bank N.A. now owns 63,511 shares of the company’s stock valued at $267,000 after buying an additional 20,168 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Lucid Group by 10.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock valued at $48,109,000 after buying an additional 1,060,588 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Lucid Group by 41.8% during the third quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock valued at $33,466,000 after buying an additional 1,763,443 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.
Lucid Group Stock Up 0.8 %
Shares of LCID stock opened at $2.42 on Thursday. Lucid Group, Inc. has a 1 year low of $2.35 and a 1 year high of $8.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The stock’s 50 day simple moving average is $3.00 and its two-hundred day simple moving average is $3.73.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Robert W. Baird dropped their price target on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Stifel Nicolaus dropped their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, February 26th. Morgan Stanley reissued an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, March 25th. Bank of America dropped their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.80.
View Our Latest Research Report on Lucid Group
Lucid Group Company Profile
Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.
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