10,854 Shares in Lucid Group, Inc. (NASDAQ:LCID) Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new position in Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,854 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. Point72 Italy S.r.l. acquired a new position in Lucid Group during the 3rd quarter valued at about $3,209,000. Main Management ETF Advisors LLC acquired a new stake in Lucid Group in the third quarter worth about $863,000. Canada Pension Plan Investment Board increased its holdings in shares of Lucid Group by 131.3% during the second quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after acquiring an additional 238,628 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in shares of Lucid Group in the 3rd quarter valued at approximately $824,000. 75.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on LCID. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 11th. Royal Bank of Canada cut 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. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Cfra set a $2.00 price objective on shares of Lucid Group in a research note on Thursday, October 17th. 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average price target of $3.04.

Lucid Group Trading Down 6.8 %

Shares of LCID stock opened at $2.86 on Wednesday. The stock has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $3.05. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The company has a market cap of $8.61 billion, a price-to-earnings ratio of -2.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Lucid Group (NASDAQ:LCID) last released its earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The company had revenue of $200.04 million for the quarter, compared to analysts’ expectations of $199.50 million. During the same period in the prior year, the firm earned ($0.28) EPS. On average, equities research analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

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.