Sequoia Financial Advisors LLC Buys 92,225 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Sequoia Financial Advisors LLC boosted its stake in Lucid Group, Inc. (NASDAQ:LCID) by 835.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,258 shares of the company’s stock after purchasing an additional 92,225 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Lucid Group were worth $312,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the fourth quarter worth about $28,000. Proficio Capital Partners LLC bought a new stake in shares of Lucid Group in the fourth quarter worth about $31,000. First National Corp MA ADV bought a new stake in shares of Lucid Group in the fourth quarter worth about $32,000. Yousif Capital Management LLC bought a new stake in shares of Lucid Group in the fourth quarter worth about $32,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Lucid Group in the fourth quarter worth about $32,000. Institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LCID shares. Cowen started coverage on Lucid Group in a report on Thursday, March 6th. They issued a “hold” rating for the company. Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $3.00 to $1.00 in a report on Wednesday, February 26th. TD Cowen started coverage on Lucid Group in a report on Friday, March 7th. They set a “hold” rating and a $2.30 price objective for the company. Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. Finally, Stifel Nicolaus decreased their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Stock Up 3.8 %

NASDAQ:LCID opened at $2.44 on Thursday. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of -1.82 and a beta of 0.97. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The stock’s 50 day moving average price is $2.70 and its two-hundred day moving average price is $2.82. The company has a quick ratio of 3.26, a current ratio of 3.71 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.