Main Management ETF Advisors LLC Invests $863,000 in Lucid Group, Inc. (NASDAQ:LCID)

Main Management ETF Advisors LLC acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 244,440 shares of the company's stock, valued at approximately $863,000.

A number of other institutional investors have also made changes to their positions in LCID. Sanctuary Advisors LLC acquired a new position in Lucid Group during the second quarter valued at approximately $26,000. Accredited Investors Inc. bought a new stake in Lucid Group during the second quarter valued at about $27,000. Frank Rimerman Advisors LLC grew its position in shares of Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock valued at $27,000 after purchasing an additional 9,250 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Lucid Group in the second quarter valued at about $34,000. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of Lucid Group by 34.9% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company's stock worth $36,000 after purchasing an additional 3,549 shares during the period. 75.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Public Investment Fund purchased 374,717,927 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares of the company's stock, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 61.26% of the company's stock.

Lucid Group Stock Up 10.0 %

Shares of Lucid Group stock traded up $0.21 during trading on Friday, hitting $2.30. 149,931,719 shares of the company's stock traded hands, compared to its average volume of 71,280,656. The firm's fifty day moving average price is $2.54 and its 200 day moving average price is $3.00. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month 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.

Analyst Ratings Changes

A number of analysts have issued reports on LCID shares. R. F. Lafferty raised 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. Robert W. Baird restated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Cantor Fitzgerald restated a "neutral" rating and issued a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada dropped their price objective 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lucid Group has a consensus rating of "Hold" and an average 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.