Paloma Partners Management Co Takes $790,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Paloma Partners Management Co acquired a new position in Lucid Group, Inc. (NASDAQ:LCID) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 223,869 shares of the company’s stock, valued at approximately $790,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Lucid Group by 84.6% during the 3rd 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 during the period. Bank of New York Mellon Corp boosted its stake in Lucid Group by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after buying an additional 581,082 shares during the period. Rhumbline Advisers increased its position in shares of Lucid Group by 6.8% during the second quarter. Rhumbline Advisers now owns 741,822 shares of the company’s stock valued at $1,936,000 after acquiring an additional 46,997 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Lucid Group by 946.6% in the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after acquiring an additional 474,534 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Lucid Group by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock worth $1,242,000 after acquiring an additional 23,752 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Royal Bank of Canada decreased their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, November 11th. 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, Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lucid Group has a consensus rating of “Hold” and an average target price of $3.16.

Insider Transactions at Lucid Group

In other Lucid Group news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the transaction, the director now owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 61.26% of the company’s stock.

Lucid Group Trading Down 2.3 %

NASDAQ LCID opened at $2.13 on Tuesday. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $5.31. The firm has a 50 day moving average of $2.68 and a two-hundred day moving average of $3.02. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $6.41 billion, a PE ratio of -1.60 and a beta of 1.11.

Lucid Group Company 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.