Point72 Italy S.r.l. purchased a new stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 908,999 shares of the company's stock, valued at approximately $3,209,000. Lucid Group comprises 1.0% of Point72 Italy S.r.l.'s holdings, making the stock its 23rd biggest holding.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its position in Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company's stock valued at $121,000 after buying an additional 6,771 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lucid Group by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company's stock valued at $1,242,000 after buying an additional 23,752 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Lucid Group by 131.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company's stock worth $1,097,000 after purchasing an additional 238,628 shares during the period. Signaturefd LLC lifted its holdings in Lucid Group by 39.8% during the third quarter. Signaturefd LLC now owns 36,493 shares of the company's stock valued at $129,000 after purchasing an additional 10,383 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Lucid Group by 54.3% during the 3rd quarter. Creative Planning now owns 224,031 shares of the company's stock worth $791,000 after buying an additional 78,839 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company's stock.
Insiders Place Their Bets
In related news, Director Public Investment Fund purchased 374,717,927 shares of Lucid Group stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 61.26% of the stock is currently owned by company insiders.
Lucid Group Stock Performance
NASDAQ:LCID traded down $0.02 during trading on Wednesday, reaching $2.10. The company's stock had a trading volume of 110,075,086 shares, compared to its average volume of 38,009,789. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of -1.57 and a beta of 1.08. The firm has a 50 day moving average of $2.63 and a 200-day moving average of $3.01. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $5.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.
Analyst Ratings Changes
LCID has been the topic of a number of recent research reports. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price on the stock in a research note on Monday, November 11th. 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. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Cantor Fitzgerald reissued a "neutral" rating and set a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. Finally, Cfra set a $2.00 price objective on Lucid Group in a report on Thursday, October 17th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $3.16.
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Lucid Group Company Profile
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Free Report)
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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