Lucid Group, Inc. (NASDAQ:LCID) Shares Bought by Fmr LLC

Fmr LLC lifted its position in Lucid Group, Inc. (NASDAQ:LCID) by 47.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,987 shares of the company’s stock after buying an additional 48,304 shares during the period. Fmr LLC’s holdings in Lucid Group were worth $529,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC raised its position in Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after acquiring an additional 9,250 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Lucid Group in the 2nd quarter worth approximately $26,000. Crumly & Associates Inc. acquired a new stake in Lucid Group during the third quarter valued at approximately $38,000. Latko Wealth Management Ltd. bought a new stake in Lucid Group during the third quarter worth approximately $39,000. Finally, Clean Yield Group acquired a new position in Lucid Group in the third quarter worth approximately $43,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LCID shares. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. 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 note on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, November 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lucid Group has a consensus rating of “Hold” and a consensus price target of $3.16.

Lucid Group Stock Down 8.3 %

Shares of Lucid Group stock opened at $2.53 on Thursday. The stock has a 50-day simple moving average of $2.41 and a 200-day simple moving average of $2.99. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.84. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of -1.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Insiders Place Their Bets

In related news, Director Public Investment Fund purchased 374,717,927 shares of Lucid Group stock in a transaction on Wednesday, October 30th. The stock was 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 directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.