Stifel Financial Corp Has $2.62 Million Stake in Lucid Group, Inc. (NASDAQ:LCID)

Stifel Financial Corp cut its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 17.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 743,160 shares of the company’s stock after selling 156,508 shares during the quarter. Stifel Financial Corp’s holdings in Lucid Group were worth $2,623,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LCID. Bank of New York Mellon Corp lifted its position 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 valued at $7,000,000 after acquiring an additional 581,082 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Lucid Group by 6.0% during the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock worth $172,000 after acquiring an additional 3,715 shares during the period. Forum Financial Management LP raised its position in Lucid Group by 2.7% during the second quarter. Forum Financial Management LP now owns 240,963 shares of the company’s stock valued at $629,000 after purchasing an additional 6,429 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its stake in Lucid Group by 34.9% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after purchasing an additional 3,549 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Lucid Group by 8.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 174,677 shares of the company’s stock valued at $456,000 after purchasing an additional 14,168 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Public Investment Fund bought 374,717,927 shares of Lucid Group stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 61.26% of the company’s stock.

Analyst Ratings Changes

LCID has been the topic of several research analyst reports. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Cfra set a $2.00 price objective on shares of Lucid Group in a research report on Thursday, October 17th. Robert W. Baird restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.16.

Lucid Group Stock Performance

Shares of Lucid Group stock opened at $2.53 on Thursday. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -1.89 and a beta of 1.08. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.84. The company’s fifty day moving average is $2.41 and its 200 day moving average is $2.99. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Lucid Group 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.