Krane Funds Advisors LLC Has $2.36 Million Stake in Lucid Group, Inc. (NASDAQ:LCID)

Krane Funds Advisors LLC grew its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 53.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 782,309 shares of the company's stock after acquiring an additional 271,031 shares during the period. Lucid Group accounts for 0.1% of Krane Funds Advisors LLC's portfolio, making the stock its 23rd largest holding. Krane Funds Advisors LLC's holdings in Lucid Group were worth $2,363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Lucid Group by 31.1% during the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock worth $333,163,000 after acquiring an additional 26,172,852 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock worth $61,214,000 after purchasing an additional 4,844,782 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lucid Group by 29.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,595,701 shares of the company's stock valued at $19,919,000 after purchasing an additional 1,499,034 shares during the last quarter. Norges Bank acquired a new stake in shares of Lucid Group in the fourth quarter valued at approximately $9,446,000. Finally, Bank of New York Mellon Corp raised its position in Lucid Group by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,958,566 shares of the company's stock worth $8,935,000 after purchasing an additional 85,370 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts have commented on LCID shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Thursday, April 3rd. Morgan Stanley upgraded Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target on the stock in a report on Tuesday, March 18th. Cowen started coverage on Lucid Group in a report on Thursday, March 6th. They set a "hold" rating for the company. Stifel Nicolaus cut their target price on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America cut shares of Lucid Group from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lucid Group has an average rating of "Hold" and an average price target of $2.69.

Lucid Group Trading Down 1.4 %

NASDAQ LCID traded down $0.04 during trading on Friday, reaching $2.49. 112,410,610 shares of the stock traded hands, compared to its average volume of 60,141,865. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of -1.85 and a beta of 0.88. The stock's 50-day moving average price is $2.53 and its 200 day moving average price is $2.66.

About Lucid Group

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.