Empowered Funds LLC Buys New Shares in Lucid Group, Inc. (NASDAQ:LCID)

Empowered Funds LLC bought a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 99,592 shares of the company's stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LCID. Lecap Asset Management Ltd. acquired a new position in shares of Lucid Group in the 4th quarter valued at about $861,000. Stratos Wealth Partners LTD. lifted its holdings in Lucid Group by 46.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,706 shares of the company's stock worth $63,000 after acquiring an additional 6,577 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Lucid Group in the fourth quarter valued at approximately $32,000. Mine & Arao Wealth Creation & Management LLC. bought a new position in shares of Lucid Group during the fourth quarter valued at approximately $44,000. Finally, R Squared Ltd acquired a new stake in shares of Lucid Group during the 4th quarter worth approximately $145,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Tuesday, January 7th. Royal Bank of Canada reduced their price target on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a report on Tuesday, November 19th. Benchmark began coverage on shares of Lucid Group in a report on Wednesday, February 12th. They issued a "buy" rating and a $5.00 price objective on the stock. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Redburn Atlantic lowered shares of Lucid Group from a "neutral" rating to a "sell" rating and dropped their price target for the company from $3.50 to $1.13 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $2.90.

Lucid Group Price Performance

Shares of Lucid Group stock traded down $0.28 on Monday, hitting $2.78. The company had a trading volume of 114,704,794 shares, compared to its average volume of 81,913,336. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a market cap of $8.37 billion, a PE ratio of -2.07 and a beta of 0.93. The business has a 50-day simple moving average of $2.99 and a 200-day simple moving average of $2.97.

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.