Townsquare Capital LLC Invests $75,000 in Lucid Group, Inc. (NASDAQ:LCID)

Townsquare Capital LLC bought a new position in Lucid Group, Inc. (NASDAQ:LCID) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,244 shares of the company’s stock, valued at approximately $75,000.

Several other large investors have also recently modified their holdings of the business. Frank Rimerman Advisors LLC grew its stake in Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after acquiring an additional 9,250 shares in the last quarter. Accredited Investors Inc. purchased a new position in Lucid Group during the second quarter valued at approximately $27,000. Sanctuary Advisors LLC purchased a new position in Lucid Group during the second quarter valued at approximately $26,000. Crumly & Associates Inc. purchased a new position in Lucid Group during the third quarter valued at approximately $38,000. Finally, Latko Wealth Management Ltd. purchased a new position in Lucid Group during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insider Activity at Lucid Group

In other news, Director Public Investment Fund purchased 374,717,927 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the acquisition, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This represents a -102.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 61.26% of the stock is currently owned by company insiders.

Lucid Group Trading Up 10.0 %

Shares of LCID opened at $2.30 on Monday. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of -1.72 and a beta of 1.08. 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, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $5.31. The firm has a 50 day moving average price of $2.54 and a 200-day moving average price of $3.00.

Analyst Ratings Changes

A number of equities analysts have commented on LCID shares. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday, November 11th. Royal Bank of Canada cut their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.16.

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.