Vontobel Holding Ltd. Buys 113,477 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Vontobel Holding Ltd. boosted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 87.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,579 shares of the company’s stock after acquiring an additional 113,477 shares during the period. Vontobel Holding Ltd.’s holdings in Lucid Group were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after acquiring an additional 6,771 shares during the last quarter. Creative Planning boosted its holdings 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 acquiring an additional 78,839 shares during the period. Bleakley Financial Group LLC bought a new stake in shares of Lucid Group in the third quarter valued at approximately $49,000. Signaturefd LLC boosted its stake in shares of 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 buying an additional 10,383 shares during the period. Finally, Waldron Private Wealth LLC bought a new stake in shares of Lucid Group in the third quarter valued at approximately $49,000. 75.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $3.37 on Thursday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. 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’s 50-day moving average is $2.96 and its 200 day moving average is $2.97. The stock has a market capitalization of $10.13 billion, a P/E ratio of -2.51 and a beta of 0.93.

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.