Van ECK Associates Corp Increases Stake in Lucid Group, Inc. (NASDAQ:LCID)

Van ECK Associates Corp raised its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 103.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,246,461 shares of the company’s stock after buying an additional 633,410 shares during the period. Van ECK Associates Corp’s holdings in Lucid Group were worth $3,764,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LCID. CWM LLC grew its stake in Lucid Group by 24.6% during the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after purchasing an additional 6,771 shares in the last quarter. Creative Planning grew its position in shares of Lucid Group by 54.3% during the third quarter. Creative Planning now owns 224,031 shares of the company’s stock worth $791,000 after buying an additional 78,839 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Lucid Group by 39.6% during the third quarter. Vontobel Holding Ltd. now owns 129,102 shares of the company’s stock worth $456,000 after buying an additional 36,651 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Lucid Group during the third quarter worth approximately $49,000. Finally, Signaturefd LLC raised its holdings in Lucid Group by 39.8% in the third quarter. Signaturefd LLC now owns 36,493 shares of the company’s stock valued at $129,000 after acquiring an additional 10,383 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LCID shares. Benchmark started coverage on shares of Lucid Group in a research report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Royal Bank of Canada cut their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. Finally, R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Lucid Group currently has an average rating of “Hold” and an average price target of $3.24.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $3.37 on Thursday. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a market cap of $10.13 billion, a P/E ratio of -2.51 and a beta of 0.93. The stock has a 50 day moving average of $2.96 and a two-hundred day moving average of $2.97. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43.

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.