UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $7.44 Million Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,108,460 shares of the company’s stock after selling 138,279 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lucid Group were worth $7,443,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LCID. Townsquare Capital LLC acquired a new stake in Lucid Group in the 3rd quarter valued at $75,000. FMR LLC grew its holdings in shares of Lucid Group by 47.5% in the 3rd quarter. FMR LLC now owns 149,987 shares of the company’s stock valued at $529,000 after acquiring an additional 48,304 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Lucid Group by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after acquiring an additional 6,374 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Lucid Group by 84.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. Finally, Caprock Group LLC boosted its position in Lucid Group by 7.4% during the third quarter. Caprock Group LLC now owns 189,961 shares of the company’s stock valued at $671,000 after purchasing an additional 13,159 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Insider Buying and Selling at Lucid Group

In other news, Director Public Investment Fund bought 374,717,927 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 61.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LCID. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 price objective on shares of Lucid Group in a research note on Tuesday, October 8th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday, November 11th. Royal Bank of Canada decreased their price objective on shares of 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. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Finally, Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.16.

Lucid Group Stock Performance

NASDAQ LCID opened at $2.55 on Tuesday. The stock has a market cap of $7.68 billion, a PE ratio of -1.90 and a beta of 1.09. 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 52-week low of $1.93 and a 52-week high of $5.31. The firm has a 50-day moving average of $2.52 and a 200-day moving average of $3.00.

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.