GAMMA Investing LLC Has $36,000 Stake in Lucid Group, Inc. (NASDAQ:LCID)

GAMMA Investing LLC boosted its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 73.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,860 shares of the company’s stock after purchasing an additional 5,031 shares during the quarter. GAMMA Investing LLC’s holdings in Lucid Group were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in Lucid Group during the second quarter worth $26,000. Frank Rimerman Advisors LLC boosted its position in shares of Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after purchasing an additional 9,250 shares during the last quarter. Crumly & Associates Inc. acquired a new position in shares of Lucid Group during the 3rd quarter worth about $38,000. Latko Wealth Management Ltd. bought a new stake in Lucid Group in the third quarter valued at approximately $39,000. Finally, Clean Yield Group acquired a new stake in Lucid Group in the third quarter worth $43,000. 75.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LCID shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. R. F. Lafferty upgraded 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 note on Monday, November 11th. Finally, Cfra set a $2.00 target price on Lucid Group in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Lucid Group has a consensus rating of “Hold” and a consensus price target of $3.04.

Lucid Group Stock Performance

Lucid Group stock opened at $2.96 on Wednesday. The business has a 50 day moving average of $2.57 and a 200-day moving average of $3.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The company has a market capitalization of $8.91 billion, a P/E ratio of -2.21 and a beta of 0.94.

Insider Activity at Lucid Group

In related news, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the purchase, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 61.26% of the stock is currently owned by company insiders.

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.