Pine Valley Investments Ltd Liability Co Grows Position in Lucid Group, Inc. (NASDAQ:LCID)

Pine Valley Investments Ltd Liability Co grew its position in Lucid Group, Inc. (NASDAQ:LCID) by 27.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,526 shares of the company’s stock after purchasing an additional 3,816 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Lucid Group were worth $62,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in Lucid Group in the 2nd quarter valued at $26,000. Frank Rimerman Advisors LLC raised its holdings in shares of Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after buying an additional 9,250 shares during the period. Lake Street Advisors Group LLC acquired a new position in Lucid Group during the 2nd quarter worth approximately $38,000. Crumly & Associates Inc. purchased a new position in Lucid Group in the 3rd quarter worth approximately $38,000. Finally, Latko Wealth Management Ltd. acquired a new stake in Lucid Group in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insider Activity

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the acquisition, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -102.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 61.26% of the company’s stock.

Lucid Group Stock Up 0.3 %

Shares of Lucid Group stock opened at $3.03 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $2.45 and a 200 day moving average price of $3.01. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The firm has a market cap of $9.13 billion, a P/E ratio of -2.26 and a beta of 1.08.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Monday, November 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, October 7th. Finally, Royal Bank of Canada dropped their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.