Mackenzie Financial Corp Raises Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Mackenzie Financial Corp increased its position in Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,852 shares of the company’s stock after purchasing an additional 14,391 shares during the quarter. Mackenzie Financial Corp’s holdings in Lucid Group were worth $1,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LCID. Truist Financial Corp grew its stake in Lucid Group by 32.5% in the first quarter. Truist Financial Corp now owns 25,656 shares of the company’s stock worth $652,000 after purchasing an additional 6,289 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Lucid Group by 36.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 5,893 shares of the company’s stock worth $150,000 after purchasing an additional 1,586 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Lucid Group by 2.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 250,852 shares of the company’s stock worth $6,372,000 after purchasing an additional 5,016 shares in the last quarter. Arizona State Retirement System grew its stake in Lucid Group by 1.9% in the first quarter. Arizona State Retirement System now owns 112,940 shares of the company’s stock worth $2,869,000 after purchasing an additional 2,112 shares in the last quarter. Finally, abrdn plc grew its stake in Lucid Group by 631.6% in the first quarter. abrdn plc now owns 50,183 shares of the company’s stock worth $1,292,000 after purchasing an additional 43,324 shares in the last quarter. Institutional investors own 70.31% of the company’s stock.

Lucid Group Stock Down 1.7 %

Lucid Group stock opened at 10.13 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 5.04 and a quick ratio of 4.21. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of -7.13 and a beta of 0.62. Lucid Group, Inc. has a 1-year low of 9.98 and a 1-year high of 56.70. The business has a fifty day moving average price of 13.63 and a 200-day moving average price of 16.39.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley dropped 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. Citigroup reaffirmed a “buy” rating and set a $28.00 target price on shares of Lucid Group in a research report on Thursday, September 15th. Cantor Fitzgerald started coverage on Lucid Group in a research report on Tuesday, September 27th. They set an “overweight” rating and a $23.00 target price on the stock. Needham & Company LLC started coverage on Lucid Group in a research report on Wednesday, September 14th. They set an “underperform” rating on the stock. Finally, R. F. Lafferty dropped their target price on Lucid Group from $19.00 to $17.00 in a research report on Thursday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of 26.83.

Lucid Group Profile

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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.

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

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