Krane Funds Advisors LLC Has $2.36 Million Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Krane Funds Advisors LLC boosted its position in Lucid Group, Inc. (NASDAQ:LCID) by 53.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 782,309 shares of the company’s stock after buying an additional 271,031 shares during the period. Lucid Group makes up 0.1% of Krane Funds Advisors LLC’s holdings, making the stock its 23rd biggest holding. Krane Funds Advisors LLC’s holdings in Lucid Group were worth $2,363,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Lucid Group during the 4th quarter valued at $28,000. Proficio Capital Partners LLC bought a new position in Lucid Group during the 4th quarter valued at approximately $31,000. First National Corp MA ADV purchased a new position in Lucid Group during the fourth quarter valued at $32,000. Yousif Capital Management LLC purchased a new stake in shares of Lucid Group in the fourth quarter worth $32,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Lucid Group during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Stock Performance

Shares of NASDAQ LCID opened at $2.28 on Monday. The stock has a market capitalization of $6.91 billion, a P/E ratio of -1.70 and a beta of 0.88. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.43. 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 firm’s 50-day moving average price is $2.56 and its two-hundred day moving average price is $2.69.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LCID shares. TD Cowen began coverage on Lucid Group in a research report on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Stifel Nicolaus dropped their price objective on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic lowered 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. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Finally, Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.