Lucid Group, Inc. (NASDAQ:LCID) Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 103.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,246,461 shares of the company's stock after acquiring an additional 633,410 shares during the period. Van ECK Associates Corp's holdings in Lucid Group were worth $3,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LCID. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group during the 4th quarter valued at approximately $28,000. First National Corp MA ADV acquired a new stake in Lucid Group in the fourth quarter worth $32,000. Yousif Capital Management LLC acquired a new stake in Lucid Group in the fourth quarter worth $32,000. Wedge Capital Management L L P NC acquired a new stake in Lucid Group in the fourth quarter worth $33,000. Finally, Foster Group Inc. acquired a new stake in Lucid Group in the fourth quarter worth $33,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research report on Tuesday, November 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. 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 research report on Monday, November 11th. Benchmark assumed coverage on Lucid Group in a research report on Wednesday, February 12th. They issued a "buy" rating and a $5.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $3.10.

Lucid Group Stock Performance

Shares of NASDAQ:LCID traded down $0.25 on Friday, hitting $3.06. The company's stock had a trading volume of 90,614,354 shares, compared to its average volume of 72,749,552. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of -2.28 and a beta of 0.93. The stock's 50-day moving average is $2.99 and its two-hundred day moving average is $2.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

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.