Raymond James Financial Inc. Takes Position in Lucid Group, Inc. (NASDAQ:LCID)

Raymond James Financial Inc. purchased a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 258,416 shares of the company's stock, valued at approximately $780,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in Lucid Group by 84.6% in 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. The Manufacturers Life Insurance Company increased its position in shares of Lucid Group by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company's stock valued at $930,000 after buying an additional 6,374 shares during the period. FMR LLC raised its stake in Lucid Group by 47.5% in the third quarter. FMR LLC now owns 149,987 shares of the company's stock worth $529,000 after buying an additional 48,304 shares in the last quarter. Townsquare Capital LLC bought a new stake in Lucid Group during the 3rd quarter valued at approximately $75,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Lucid Group by 43.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 117,764 shares of the company's stock worth $416,000 after acquiring an additional 35,766 shares during the period. Institutional investors own 75.17% of the company's stock.

Lucid Group Stock Performance

Shares of NASDAQ LCID traded up $0.17 during midday trading on Monday, hitting $2.45. 173,738,590 shares of the company's stock traded hands, compared to its average volume of 58,309,773. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of -1.83 and a beta of 0.88. The firm has a fifty day moving average of $2.56 and a 200 day moving average of $2.69. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43.

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Analysts Set New Price Targets

LCID has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. TD Cowen assumed coverage on Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Morgan Stanley upgraded Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target for the company in a report on Tuesday, March 18th. Finally, Benchmark reiterated a "buy" rating and issued a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Lucid Group currently has an average rating of "Hold" and a consensus price target of $2.69.

Lucid Group 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.