Vontobel Holding Ltd. Boosts Stake in Lucid Group, Inc. (NASDAQ:LCID)

Vontobel Holding Ltd. lifted its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 87.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,579 shares of the company's stock after acquiring an additional 113,477 shares during the period. Vontobel Holding Ltd.'s holdings in Lucid Group were worth $733,000 at the end of the most recent quarter.

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

Lucid Group Stock Performance

LCID stock traded down $0.25 during trading on Friday, hitting $3.06. 90,614,354 shares of the company traded hands, compared to its average volume of 72,749,552. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The company has a market cap of $9.22 billion, a PE ratio of -2.28 and a beta of 0.93. The stock's 50-day simple moving average is $2.99 and its 200 day simple moving average is $2.98. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Analyst Ratings Changes

Several brokerages recently issued reports on LCID. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. Benchmark started 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. Royal Bank of Canada lowered their price target on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 19th. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a research note on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $3.24.

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.