9,265 Shares in Lucid Group, Inc. (NASDAQ:LCID) Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,265 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC purchased a new stake in shares of Lucid Group during the fourth quarter worth $301,000. Lecap Asset Management Ltd. bought a new position in Lucid Group during the fourth quarter valued at about $861,000. Stratos Wealth Partners LTD. raised its holdings in Lucid Group by 46.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 20,706 shares of the company’s stock valued at $63,000 after buying an additional 6,577 shares in the last quarter. Yousif Capital Management LLC bought a new position in Lucid Group during the fourth quarter valued at about $32,000. Finally, Mine & Arao Wealth Creation & Management LLC. bought a new position in Lucid Group during the fourth quarter valued at about $44,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LCID has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a report on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Royal Bank of Canada cut their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday, November 11th. Finally, Cfra set a $2.00 price objective on Lucid Group in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.04.

Lucid Group Trading Down 2.9 %

Lucid Group stock opened at $2.69 on Wednesday. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43. The firm has a market capitalization of $8.10 billion, a PE ratio of -2.01 and a beta of 0.93. The business’s 50-day simple moving average is $2.85 and its 200-day simple moving average is $2.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

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.