Mitsubishi UFJ Trust & Banking Corp Acquires 32,289 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 16.4% during the second quarter, HoldingsChannel reports. The firm owned 229,757 shares of the company’s stock after purchasing an additional 32,289 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lucid Group were worth $3,942,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its stake in Lucid Group by 8.3% during the second quarter. Stratos Wealth Partners LTD. now owns 12,658 shares of the company’s stock valued at $217,000 after acquiring an additional 965 shares during the period. US Bancorp DE increased its stake in Lucid Group by 297.6% during the second quarter. US Bancorp DE now owns 55,737 shares of the company’s stock valued at $956,000 after acquiring an additional 41,720 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lucid Group during the second quarter valued at about $97,000. Swiss National Bank increased its stake in Lucid Group by 0.5% during the second quarter. Swiss National Bank now owns 1,792,000 shares of the company’s stock valued at $30,751,000 after acquiring an additional 9,300 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Lucid Group in the 2nd quarter valued at approximately $755,000. 70.31% of the stock is currently owned by institutional investors.

Lucid Group Stock Down 1.7 %

NASDAQ:LCID opened at 11.26 on Friday. The stock’s fifty day moving average price is 13.75 and its two-hundred day moving average price is 16.50. Lucid Group, Inc. has a 52-week low of 10.89 and a 52-week high of 57.44. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.21 and a current ratio of 5.04. The company has a market cap of $18.92 billion, a price-to-earnings ratio of -7.93 and a beta of 0.62.

Wall Street Analysts Forecast Growth

LCID has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on Lucid Group in a research note on Tuesday, September 27th. They issued an “overweight” rating and a $23.00 price objective on the stock. Needham & Company LLC initiated coverage on Lucid Group in a research note on Wednesday, September 14th. They issued an “underperform” rating on the stock. Citigroup reiterated a “buy” rating and issued a $28.00 price objective on shares of Lucid Group in a research note on Thursday, September 15th. Morgan Stanley lowered their price objective on Lucid Group from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, November 10th. Finally, R. F. Lafferty lowered their price objective on Lucid Group from $19.00 to $17.00 in a research note on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of 26.83.

Lucid Group Company Profile

(Get Rating)

Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

Further Reading

Want to see what other hedge funds are holding LCID? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lucid Group, Inc. (NASDAQ:LCIDGet Rating).

Institutional Ownership by Quarter for Lucid Group (NASDAQ:LCID)

Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.