Lucid Group, Inc. (NASDAQ:LCID) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 103.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,246,461 shares of the company’s stock after purchasing an additional 633,410 shares during the period. Van ECK Associates Corp’s holdings in Lucid Group were worth $3,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Lucid Group by 24.6% during the third quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after purchasing an additional 6,771 shares during the period. Creative Planning raised its position in Lucid Group by 54.3% during the 3rd quarter. Creative Planning now owns 224,031 shares of the company’s stock worth $791,000 after buying an additional 78,839 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Lucid Group by 39.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 129,102 shares of the company’s stock worth $456,000 after acquiring an additional 36,651 shares during the period. Bleakley Financial Group LLC purchased a new stake in shares of Lucid Group in the third quarter valued at about $49,000. Finally, Signaturefd LLC increased its stake in shares of Lucid Group by 39.8% during the third quarter. Signaturefd LLC now owns 36,493 shares of the company’s stock worth $129,000 after acquiring an additional 10,383 shares during the period. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Stock Down 3.3 %

Shares of NASDAQ LCID opened at $3.37 on Thursday. The firm’s 50-day moving average is $2.96 and its two-hundred day moving average is $2.97. The company has a market capitalization of $10.13 billion, a PE ratio of -2.51 and a beta of 0.93. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Analysts Set New Price Targets

LCID has been the topic of a number of analyst reports. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Monday, November 11th. Royal Bank of Canada dropped their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Benchmark initiated coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.24.

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.