Charles Schwab Investment Management Inc. Increases Position in Lucid Group, Inc. (NASDAQ:LCID)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,595,701 shares of the company’s stock after acquiring an additional 1,499,034 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.22% of Lucid Group worth $19,919,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of LCID. Newbridge Financial Services Group Inc. acquired a new position in Lucid Group in the fourth quarter worth about $28,000. Proficio Capital Partners LLC acquired a new position in Lucid Group in the fourth quarter worth about $31,000. First National Corp MA ADV acquired a new position in Lucid Group in the fourth quarter worth about $32,000. Yousif Capital Management LLC acquired a new position in Lucid Group in the fourth quarter worth about $32,000. Finally, Wedge Capital Management L L P NC acquired a new position in Lucid Group in the fourth quarter worth about $33,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LCID. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Morgan Stanley upgraded Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price for the company in a research note on Tuesday. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and decreased their target price for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Cowen began coverage on Lucid Group in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Price Performance

NASDAQ LCID opened at $2.44 on Thursday. The stock has a market capitalization of $7.40 billion, a P/E ratio of -1.82 and a beta of 0.97. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The business’s fifty day moving average is $2.70 and its two-hundred day moving average is $2.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

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.