10,262 Shares in Lucid Group, Inc. (NASDAQ:LCID) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,262 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group in the fourth quarter worth $28,000. First National Corp MA ADV bought a new position in shares of Lucid Group during the 4th quarter worth about $32,000. Yousif Capital Management LLC acquired a new position in shares of Lucid Group during the fourth quarter valued at about $32,000. Wedge Capital Management L L P NC bought a new stake in shares of Lucid Group in the fourth quarter valued at about $33,000. Finally, Foster Group Inc. acquired a new stake in Lucid Group during the fourth quarter worth about $33,000. 75.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on LCID. Royal Bank of Canada cut their price target 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. TD Cowen assumed coverage on Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.30 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Wednesday, February 26th. Cowen began coverage on shares of Lucid Group in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Price Performance

Shares of Lucid Group stock opened at $2.03 on Friday. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The firm’s 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.87. 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 capitalization of $6.15 billion, a price-to-earnings ratio of -1.51 and a beta of 0.97.

Lucid Group Company 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.