Charles Schwab Investment Management Inc. Grows Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

Charles Schwab Investment Management Inc. increased its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 84.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,096,667 shares of the company’s stock after acquiring an additional 2,335,452 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.22% of Lucid Group worth $17,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LCID. Bank of New York Mellon Corp grew its holdings in shares of Lucid Group by 27.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after purchasing an additional 581,082 shares during the period. Canada Pension Plan Investment Board lifted its position in Lucid Group by 131.3% in the second quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after buying an additional 238,628 shares during the last quarter. Caprock Group LLC purchased a new position in Lucid Group during the second quarter worth about $461,000. SG Americas Securities LLC purchased a new position in Lucid Group during the third quarter worth about $537,000. Finally, Algert Global LLC acquired a new stake in shares of Lucid Group during the second quarter valued at about $243,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Insider Transactions at Lucid Group

In other news, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the acquisition, the director now owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 61.26% of the company’s stock.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.30 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a market cap of $6.93 billion, a price-to-earnings ratio of -1.67 and a beta of 1.08. The stock’s 50-day moving average is $2.57 and its two-hundred day moving average is $3.00. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $5.31.

Analyst Ratings Changes

LCID has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, November 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research note on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Cfra set a $2.00 target price on Lucid Group in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lucid Group has a consensus rating of “Hold” and a consensus price target of $3.16.

About Lucid Group

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.