Lucid Group, Inc. (NASDAQ:LCID) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Lucid Group, Inc. (NASDAQ:LCID) by 31.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,263,309 shares of the company’s stock after purchasing an additional 4,844,782 shares during the period. Geode Capital Management LLC owned 0.67% of Lucid Group worth $61,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC boosted its position in Lucid Group by 47.5% during the third quarter. FMR LLC now owns 149,987 shares of the company’s stock worth $529,000 after acquiring an additional 48,304 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of Lucid Group during the 3rd quarter worth approximately $60,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Lucid Group in the third quarter valued at approximately $84,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Lucid Group in the third quarter valued at approximately $121,000. Finally, M&T Bank Corp lifted its position in Lucid Group by 46.0% during the third quarter. M&T Bank Corp now owns 222,335 shares of the company’s stock worth $785,000 after buying an additional 70,079 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Price Performance

LCID stock opened at $2.50 on Friday. The business’s fifty day moving average price is $2.52 and its 200 day moving average price is $2.65. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $7.58 billion, a PE ratio of -1.87 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LCID shares. Stifel Nicolaus cut their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Cowen began coverage on shares of Lucid Group in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Lucid Group in a report on Friday, March 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and a consensus price target of $2.69.

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.