Vanguard Group Inc. Boosts Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Vanguard Group Inc. boosted its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 31.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 110,318,727 shares of the company's stock after acquiring an additional 26,172,852 shares during the quarter. Vanguard Group Inc. owned 3.66% of Lucid Group worth $333,163,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Lucid Group by 84.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock worth $17,991,000 after purchasing an additional 2,335,452 shares in the last quarter. 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 worth $930,000 after purchasing an additional 6,374 shares in the last quarter. FMR LLC lifted its holdings in Lucid Group by 47.5% in the 3rd quarter. FMR LLC now owns 149,987 shares of the company's stock valued at $529,000 after purchasing an additional 48,304 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Lucid Group during the 3rd quarter worth $75,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Lucid Group by 43.6% during the third quarter. Rockefeller Capital Management L.P. now owns 117,764 shares of the company's stock worth $416,000 after buying an additional 35,766 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Trading Up 7.5 %

LCID traded up $0.17 during mid-day trading on Monday, hitting $2.45. 174,781,003 shares of the stock were exchanged, compared to its average volume of 58,314,127. The company has a market cap of $7.43 billion, a PE ratio of -1.83 and a beta of 0.88. 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's fifty day moving average is $2.56 and its two-hundred day moving average is $2.69. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LCID shares. Redburn Atlantic downgraded shares of Lucid Group from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research note on Thursday. Cowen began coverage on Lucid Group in a research note on Thursday, March 6th. They issued a "hold" rating for the company. TD Cowen assumed coverage on shares of Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 target price on the stock. Finally, Bank of America cut shares of Lucid Group from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $2.69.

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.