Orion Portfolio Solutions LLC Invests $84,000 in Lucid Group, Inc. (NASDAQ:LCID)

Orion Portfolio Solutions LLC acquired a new position in Lucid Group, Inc. (NASDAQ:LCID) during the 3rd quarter, HoldingsChannel reports. The fund acquired 23,658 shares of the company’s stock, valued at approximately $84,000.

Other institutional investors also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Lucid Group by 34.9% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after acquiring an additional 3,549 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock valued at $172,000 after purchasing an additional 3,715 shares in the last quarter. Greenleaf Trust boosted its stake in Lucid Group by 22.0% during the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after purchasing an additional 4,604 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Lucid Group by 12.5% during the second quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after buying an additional 5,337 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Lucid Group by 20.8% in the second quarter. Xponance Inc. now owns 31,938 shares of the company’s stock worth $83,000 after buying an additional 5,493 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lucid Group

In other news, Director Public Investment Fund purchased 374,717,927 shares of the 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 in the company, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 61.26% of the company’s stock.

Wall Street Analyst Weigh In

LCID has been the subject of several research reports. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Cfra set a $2.00 price target on Lucid Group in a report on Thursday, October 17th. 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 note on Tuesday, November 19th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.16.

Lucid Group Stock Up 14.8 %

Shares of NASDAQ:LCID opened at $3.02 on Friday. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of -2.25 and a beta of 1.08. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.49. The business has a 50-day moving average price of $2.39 and a 200 day moving average price of $2.98. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

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.