Lucid Group, Inc. (NASDAQ:LCID) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC increased its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 75.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,259 shares of the company’s stock after purchasing an additional 25,421 shares during the period. Sterling Capital Management LLC’s holdings in Lucid Group were worth $179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Lucid Group during the 4th quarter worth approximately $780,000. Norges Bank purchased a new position in shares of Lucid Group in the fourth quarter valued at $9,446,000. Nisa Investment Advisors LLC increased its stake in Lucid Group by 4,301.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after buying an additional 249,500 shares during the period. Renaissance Technologies LLC lifted its holdings in Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock worth $49,950,000 after buying an additional 12,803,987 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Lucid Group during the fourth quarter valued at about $301,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Cowen assumed coverage on shares of Lucid Group in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Morgan Stanley upgraded shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective on the stock in a research note on Tuesday, March 18th. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Lucid Group in a research report on Friday, March 7th. Finally, Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Lucid Group presently has an average rating of “Hold” and a consensus price target of $2.69.

Lucid Group Stock Performance

LCID opened at $2.32 on Tuesday. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The stock has a market cap of $7.03 billion, a PE ratio of -1.73 and a beta of 0.88. The business’s 50 day moving average is $2.47 and its 200-day moving average is $2.61. 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.