Lucid Group, Inc. (NASDAQ:LCID) Stock Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 29.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,595,701 shares of the company’s stock after purchasing an additional 1,499,034 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Lucid Group were worth $19,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Lucid Group during the 4th quarter worth approximately $28,000. Proficio Capital Partners LLC purchased a new position in Lucid Group during the 4th quarter worth approximately $31,000. First National Corp MA ADV purchased a new position in Lucid Group during the 4th quarter worth approximately $32,000. Yousif Capital Management LLC purchased a new position in Lucid Group during the 4th quarter worth approximately $32,000. Finally, Wedge Capital Management L L P NC purchased a new position in Lucid Group during the 4th quarter worth approximately $33,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Cowen started coverage on shares of Lucid Group in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Lucid Group in a report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a report on Wednesday, February 26th. Finally, TD Cowen started coverage on shares of Lucid Group in a report on Friday, March 7th. They set a “hold” rating and a $2.30 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.69.

Lucid Group Trading Up 3.8 %

Shares of NASDAQ:LCID opened at $2.44 on Thursday. The stock has a market capitalization of $7.40 billion, a PE ratio of -1.82 and a beta of 0.97. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The firm has a fifty day moving average price of $2.70 and a 200 day moving average price of $2.82. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

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.