Stratos Wealth Partners LTD. Purchases 6,577 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Stratos Wealth Partners LTD. increased its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 46.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,706 shares of the company’s stock after buying an additional 6,577 shares during the period. Stratos Wealth Partners LTD.’s holdings in Lucid Group were worth $63,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LCID. Point72 Italy S.r.l. bought a new stake in Lucid Group during the third quarter valued at about $3,209,000. Main Management ETF Advisors LLC bought a new stake in Lucid Group during the 3rd quarter valued at approximately $863,000. Charles Schwab Investment Management Inc. grew its holdings in Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after buying an additional 2,335,452 shares during the last quarter. CWM LLC increased its position in Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after buying an additional 6,771 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Lucid Group by 4,301.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after buying an additional 249,500 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Price Performance

Shares of LCID stock opened at $3.31 on Friday. 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 stock’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $2.98. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of -2.47 and a beta of 0.93.

Analysts Set New Price Targets

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

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.