State of New Jersey Common Pension Fund D Has $3.02 Million Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

State of New Jersey Common Pension Fund D raised its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 114.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 999,601 shares of the company’s stock after purchasing an additional 533,973 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lucid Group were worth $3,019,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after buying an additional 2,335,452 shares during the period. Point72 Italy S.r.l. bought a new position in Lucid Group during the 3rd quarter worth $3,209,000. Van ECK Associates Corp increased its position 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 buying an additional 633,410 shares during the period. Lecap Asset Management Ltd. bought a new position in Lucid Group during the 4th quarter worth $861,000. Finally, Nisa Investment Advisors LLC increased its position in Lucid Group by 4,301.7% during the 4th 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 period. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analyst Ratings Changes

LCID has been the topic of several recent research reports. Royal Bank of Canada lowered their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Tuesday, January 7th. Benchmark started coverage on Lucid Group in a research report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.24.

Lucid Group Stock Performance

Lucid Group stock opened at $3.31 on Friday. The stock has a market cap of $9.97 billion, a PE ratio of -2.47 and a beta of 0.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The business’s 50-day moving average price is $2.98 and its two-hundred day moving average price is $2.98.

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.