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

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

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Lucid Group by 29.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,595,701 shares of the company’s stock valued at $19,919,000 after buying an additional 1,499,034 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lucid Group by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,958,566 shares of the company’s stock worth $8,935,000 after acquiring an additional 85,370 shares during the period. Van ECK Associates Corp increased its holdings in Lucid Group by 103.3% during the 4th quarter. Van ECK Associates Corp now owns 1,246,461 shares of the company’s stock worth $3,764,000 after acquiring an additional 633,410 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in shares of Lucid Group by 114.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 999,601 shares of the company’s stock valued at $3,019,000 after acquiring an additional 533,973 shares in the last quarter. Finally, Point72 Italy S.r.l. purchased a new position in Lucid Group in the third quarter worth $3,209,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Down 4.1 %

Shares of LCID opened at $2.32 on Friday. The stock has a fifty day simple moving average of $2.61 and a two-hundred day simple moving average of $2.76. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.43. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $7.03 billion, a PE ratio of -1.73 and a beta of 0.97.

Analyst Ratings Changes

LCID has been the subject of several recent research reports. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Stifel Nicolaus lowered their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Friday. TD Cowen assumed coverage on shares of Lucid Group in a research report on Friday, March 7th. They set a “hold” rating and a $2.30 price objective on the stock. Finally, Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Lucid Group in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Lucid Group presently has an average rating of “Hold” and a consensus target price of $2.69.

About Lucid Group

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.