Tudor Investment Corp ET AL Acquires 1,017,245 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Tudor Investment Corp ET AL boosted its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 605.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,185,199 shares of the company's stock after purchasing an additional 1,017,245 shares during the period. Tudor Investment Corp ET AL's holdings in Lucid Group were worth $3,579,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LCID. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $28,000. Accredited Investors Inc. bought a new position in Lucid Group during the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC acquired a new position in shares of Lucid Group in the 4th quarter worth approximately $31,000. DRW Securities LLC bought a new stake in shares of Lucid Group in the 4th quarter valued at approximately $31,000. Finally, First National Corp MA ADV acquired a new stake in shares of Lucid Group during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Stock Performance

Shares of Lucid Group stock remained flat at $2.53 during mid-day trading on Friday. 64,352,353 shares of the company were exchanged, compared to its average volume of 64,210,642. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The company has a market capitalization of $7.67 billion, a P/E ratio of -1.89 and a beta of 0.88. The company has a fifty day simple moving average of $2.35 and a 200-day simple moving average of $2.56. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America lowered Lucid Group from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $3.00 to $1.00 in a research report on Wednesday, February 26th. Morgan Stanley upgraded shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price for the company in a research report on Tuesday, March 18th. TD Cowen began coverage on Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 price objective for the company. Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research report on Thursday, April 3rd. Finally, Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $2.68.

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.