Avantax Advisory Services Inc. Acquires 24,552 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Avantax Advisory Services Inc. grew its position in shares of Lucid Group, Inc. (NASDAQ:LCIDFree Report) by 66.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,337 shares of the company’s stock after buying an additional 24,552 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Lucid Group were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1832 Asset Management L.P. bought a new position in Lucid Group in the 1st quarter worth $25,000. First Manhattan Co. raised its holdings in Lucid Group by 666.7% in the 1st quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the period. Quent Capital LLC raised its holdings in Lucid Group by 184.6% in the 3rd quarter. Quent Capital LLC now owns 4,482 shares of the company’s stock worth $25,000 after purchasing an additional 2,907 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Lucid Group by 283.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 4,967 shares of the company’s stock worth $34,000 after purchasing an additional 3,671 shares during the period. Finally, Psagot Value Holdings Ltd. Israel raised its holdings in Lucid Group by 84.0% in the 2nd quarter. Psagot Value Holdings Ltd. Israel now owns 5,251 shares of the company’s stock worth $36,000 after purchasing an additional 2,397 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on Lucid Group from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 9th. Stifel Nicolaus initiated coverage on Lucid Group in a report on Thursday, December 7th. They set a “hold” rating and a $5.00 price target on the stock. Needham & Company LLC cut Lucid Group from a “buy” rating to a “hold” rating in a report on Monday, November 27th. R. F. Lafferty cut Lucid Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $5.00 in a report on Wednesday, November 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $6.00 price target on shares of Lucid Group in a report on Friday, January 12th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.85.

Get Our Latest Stock Report on LCID

Lucid Group Trading Up 2.0 %

Shares of Lucid Group stock opened at $3.59 on Tuesday. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of -2.58 and a beta of 1.07. The business has a 50-day moving average price of $3.75 and a 200-day moving average price of $4.78. The company has a quick ratio of 4.42, a current ratio of 5.19 and a debt-to-equity ratio of 0.38. Lucid Group, Inc. has a twelve month low of $2.54 and a twelve month high of $11.27.

About Lucid Group

(Free Report)

Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.

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

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