10,262 Shares in Lucid Group, Inc. (NASDAQ:LCID) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,262 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors have also modified their holdings of the company. Pine Valley Investments Ltd Liability Co raised its stake in shares of Lucid Group by 27.8% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock worth $62,000 after purchasing an additional 3,816 shares during the last quarter. GAMMA Investing LLC grew its holdings in Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after purchasing an additional 5,031 shares during the last quarter. SG Americas Securities LLC raised its position in Lucid Group by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 157,160 shares of the company’s stock worth $475,000 after acquiring an additional 5,121 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Lucid Group by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after buying an additional 6,374 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Lucid Group by 46.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,706 shares of the company’s stock worth $63,000 after acquiring an additional 6,577 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Performance

NASDAQ LCID opened at $2.32 on Friday. 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 firm has a market cap of $7.03 billion, a price-to-earnings ratio of -1.73 and a beta of 0.97. The company has a 50 day moving average of $2.61 and a 200-day moving average of $2.76. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley raised Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target on the stock in a research note on Tuesday, March 18th. Cowen initiated coverage on Lucid Group in a research note on Thursday, March 6th. They set a “hold” rating for the company. Stifel Nicolaus decreased their price objective on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Finally, TD Cowen began coverage on Lucid Group in a report on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.69.

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.