Caprock Group LLC Grows Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

Caprock Group LLC grew its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,961 shares of the company’s stock after acquiring an additional 13,159 shares during the quarter. Caprock Group LLC’s holdings in Lucid Group were worth $671,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after purchasing an additional 489,187 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Lucid Group by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after buying an additional 581,082 shares during the period. Rhumbline Advisers grew its holdings in shares of Lucid Group by 6.8% during the second quarter. Rhumbline Advisers now owns 741,822 shares of the company’s stock valued at $1,936,000 after buying an additional 46,997 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Lucid Group by 946.6% in the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after acquiring an additional 474,534 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Lucid Group by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock worth $1,242,000 after acquiring an additional 23,752 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Ratings Changes

LCID has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. 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 report on Monday, November 11th. Royal Bank of Canada dropped their price objective on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday. Finally, Cfra set a $2.00 target price on shares of Lucid Group in a report on Thursday, October 17th. One research 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. According to MarketBeat, Lucid Group has an average rating of “Hold” and a consensus target price of $3.16.

Lucid Group Stock Performance

Shares of NASDAQ LCID opened at $2.10 on Friday. The company has a market capitalization of $6.32 billion, a PE ratio of -1.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company’s fifty day moving average price is $2.83 and its 200 day moving average price is $3.04. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $5.31.

Insiders Place Their Bets

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.