Nebula Research & Development LLC Raises Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

Nebula Research & Development LLC raised its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 134.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,616 shares of the company's stock after buying an additional 120,965 shares during the period. Nebula Research & Development LLC's holdings in Lucid Group were worth $636,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LCID. Pine Valley Investments Ltd Liability Co increased its stake in shares of Lucid Group by 27.8% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company's stock worth $62,000 after purchasing an additional 3,816 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Lucid Group by 43.8% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company's stock worth $43,000 after purchasing an additional 4,296 shares in the last quarter. Sei Investments Co. increased its stake in shares of Lucid Group by 14.0% during the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company's stock worth $109,000 after purchasing an additional 4,431 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Lucid Group by 4.0% during the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company's stock worth $363,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Alpine Global Management LLC increased its stake in shares of Lucid Group by 7.4% during the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company's stock worth $203,000 after purchasing an additional 4,653 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.53 on Tuesday. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of -1.89 and a beta of 0.88. The firm's fifty day simple moving average is $2.38 and its 200 day simple moving average is $2.57. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LCID. Robert W. Baird raised their price objective on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, April 3rd. Benchmark restated a "buy" rating and set a $5.00 target price on shares of Lucid Group in a research report on Friday, March 7th. Stifel Nicolaus decreased 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, TD Cowen started coverage on shares of Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of "Hold" and a consensus target price of $2.68.

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.

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