Empowered Funds LLC Takes $301,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

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

A number of other large investors also recently modified their holdings of LCID. Point72 Italy S.r.l. purchased a new stake in Lucid Group in the 3rd quarter valued at approximately $3,209,000. Main Management ETF Advisors LLC purchased a new stake in shares of Lucid Group in the third quarter valued at approximately $863,000. Charles Schwab Investment Management Inc. grew its holdings in Lucid Group by 84.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock worth $17,991,000 after acquiring an additional 2,335,452 shares during the period. CWM LLC raised its position in Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company's stock worth $121,000 after acquiring an additional 6,771 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Lucid Group by 4,301.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock worth $771,000 after purchasing an additional 249,500 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Price Performance

LCID stock traded down $0.25 during trading on Friday, hitting $3.06. The stock had a trading volume of 90,614,354 shares, compared to its average volume of 80,940,344. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of -2.28 and a beta of 0.93. The company's 50 day moving average price is $2.98 and its two-hundred day moving average price 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.

Wall Street Analysts Forecast Growth

LCID has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a 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 research report on Tuesday, November 19th. Benchmark initiated coverage on Lucid Group in a report on Wednesday, February 12th. They issued a "buy" rating and a $5.00 price target on the stock. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Lucid Group presently has an average rating of "Hold" and an average price target of $3.24.

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.