Orion Portfolio Solutions LLC Purchases Shares of 23,658 Lucid Group, Inc. (NASDAQ:LCID)

Orion Portfolio Solutions LLC purchased a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,658 shares of the company’s stock, valued at approximately $84,000.

Other hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC increased its stake in Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after purchasing an additional 9,250 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Lucid Group during the second quarter valued at $26,000. Crumly & Associates Inc. acquired a new position in shares of Lucid Group in the 3rd quarter valued at $38,000. Latko Wealth Management Ltd. purchased a new position in Lucid Group in the 3rd quarter worth $39,000. Finally, Clean Yield Group acquired a new stake in Lucid Group during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Insider Activity at Lucid Group

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the acquisition, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 61.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cfra set a $2.00 price objective on Lucid Group in a report on Thursday, October 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Royal Bank of Canada cut their price objective on shares of 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. Finally, R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.16.

Lucid Group Trading Up 14.8 %

Shares of Lucid Group stock opened at $3.02 on Friday. The firm has a 50-day simple moving average of $2.39 and a two-hundred day simple moving average of $2.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.49. The company has a market cap of $9.10 billion, a P/E ratio of -2.25 and a beta of 1.08.

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.