Sei Investments Co. Buys 4,431 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Sei Investments Co. raised its stake in Lucid Group, Inc. (NASDAQ:LCID) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,031 shares of the company’s stock after acquiring an additional 4,431 shares during the period. Sei Investments Co.’s holdings in Lucid Group were worth $109,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LCID. American Century Companies Inc. grew its position in shares of Lucid Group by 12.8% during the fourth quarter. American Century Companies Inc. now owns 83,632 shares of the company’s stock valued at $253,000 after purchasing an additional 9,475 shares in the last quarter. HUB Investment Partners LLC increased its stake in Lucid Group by 58.6% in the 4th quarter. HUB Investment Partners LLC now owns 20,837 shares of the company’s stock worth $63,000 after acquiring an additional 7,699 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Lucid Group by 11.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 65,574 shares of the company’s stock worth $198,000 after acquiring an additional 6,698 shares in the last quarter. Xponance Inc. boosted its position in shares of Lucid Group by 32.1% during the 4th quarter. Xponance Inc. now owns 44,246 shares of the company’s stock valued at $134,000 after acquiring an additional 10,739 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Lucid Group by 2.1% in the fourth quarter. Swiss National Bank now owns 1,839,000 shares of the company’s stock valued at $5,554,000 after purchasing an additional 37,500 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their price target for the company from $3.50 to $1.13 in a research note on Monday, February 24th. TD Cowen started coverage on shares of Lucid Group in a report on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Morgan Stanley raised Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective on the stock in a research note on Tuesday, March 18th. Cowen initiated coverage on Lucid Group in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.69.

Lucid Group Stock Performance

LCID stock opened at $2.50 on Friday. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of -1.87 and a beta of 0.88. The business’s fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $2.65. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Lucid Group 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.