Yousif Capital Management LLC Makes New Investment in Lucid Group, Inc. (NASDAQ:LCID)

Yousif Capital Management LLC purchased a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,540 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Lucid Group in the second quarter valued at about $26,000. Crumly & Associates Inc. acquired a new position in shares of Lucid Group in the 3rd quarter worth approximately $38,000. Wedge Capital Management L L P NC purchased a new position in shares of Lucid Group during the 4th quarter worth approximately $33,000. Latko Wealth Management Ltd. acquired a new stake in Lucid Group in the 3rd quarter valued at approximately $39,000. Finally, Foster Group Inc. purchased a new stake in Lucid Group in the fourth quarter valued at approximately $33,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Stock Performance

Shares of LCID stock opened at $3.48 on Wednesday. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43. 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 company has a market cap of $10.48 billion, a P/E ratio of -2.60 and a beta of 0.93. The firm has a fifty day moving average price of $2.94 and a 200 day moving average price of $2.97.

Wall Street Analyst Weigh In

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