Brighton Jones LLC acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,772 shares of the company’s stock, valued at approximately $56,000.
Several other hedge funds have also recently modified their holdings of the stock. Greenleaf Trust increased its holdings in Lucid Group by 22.0% in the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after buying an additional 4,604 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of Lucid Group during the 3rd quarter valued at approximately $49,000. Signaturefd LLC lifted its holdings in Lucid Group by 39.8% in the 3rd quarter. Signaturefd LLC now owns 36,493 shares of the company’s stock valued at $129,000 after purchasing an additional 10,383 shares in the last quarter. Friedenthal Financial purchased a new position in Lucid Group in the 3rd quarter valued at $50,000. Finally, Bleakley Financial Group LLC purchased a new position in Lucid Group in the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 75.17% of the company’s stock.
Lucid Group Price Performance
Shares of NASDAQ LCID opened at $2.50 on Monday. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $5.31. The stock has a 50 day moving average of $3.47 and a two-hundred day moving average of $3.10. The stock has a market cap of $5.77 billion, a P/E ratio of -1.97 and a beta of 1.04.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Cfra set a $2.00 target price on Lucid Group in a research report on Thursday, October 17th. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.54.
View Our Latest Report on Lucid Group
Insider Activity
In related news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 61.26% of the company’s stock.
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.
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