Lucid Group, Inc. (NASDAQ:LCID) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 84.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,096,667 shares of the company's stock after acquiring an additional 2,335,452 shares during the period. Charles Schwab Investment Management Inc. owned about 0.22% of Lucid Group worth $17,991,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new stake in shares of Lucid Group in the second quarter worth approximately $26,000. Accredited Investors Inc. acquired a new position in shares of Lucid Group in the 2nd quarter valued at $27,000. Frank Rimerman Advisors LLC grew its stake in shares of Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock valued at $27,000 after buying an additional 9,250 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Lucid Group during the 2nd quarter worth $34,000. Finally, Pine Valley Investments Ltd Liability Co raised its position in shares of Lucid Group by 34.9% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company's stock worth $36,000 after buying an additional 3,549 shares during the period. Hedge funds and other institutional investors own 75.17% of the company's stock.

Insider Buying and Selling at Lucid Group

In related news, Director Public Investment Fund purchased 374,717,927 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now owns 8,041,393 shares of the company's stock, valued at $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 61.26% of the stock is currently owned by corporate insiders.

Lucid Group Stock Performance

LCID traded up $0.21 during trading hours on Friday, reaching $2.30. 149,931,719 shares of the stock traded hands, compared to its average volume of 71,280,656. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $5.31. 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 firm's fifty day simple moving average is $2.54 and its two-hundred day simple moving average is $3.00.

Analysts Set New Price Targets

A number of research firms have issued reports on LCID. Cfra set a $2.00 price target on Lucid Group in a research report on Thursday, October 17th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Royal Bank of Canada cut their price target on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a report on Tuesday, November 19th. Robert W. Baird reissued a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $4.00 target price on shares of Lucid Group in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $3.16.

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.