SBI Securities Co. Ltd. Invests $342,000 in Lucid Group, Inc. (NASDAQ:LCID)

SBI Securities Co. Ltd. purchased a new position in Lucid Group, Inc. (NASDAQ:LCID) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 113,376 shares of the company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LCID. Newbridge Financial Services Group Inc. purchased a new stake in Lucid Group in the fourth quarter worth $28,000. Proficio Capital Partners LLC purchased a new stake in Lucid Group in the fourth quarter worth $31,000. First National Corp MA ADV purchased a new stake in Lucid Group in the fourth quarter worth $32,000. Yousif Capital Management LLC bought a new stake in Lucid Group in the fourth quarter worth $32,000. Finally, Wedge Capital Management L L P NC bought a new stake in Lucid Group in the fourth quarter worth $33,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Trading Up 3.3 %

Shares of NASDAQ:LCID opened at $2.17 on Thursday. The company has a market cap of $6.54 billion, a P/E ratio of -1.62 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The stock’s fifty day moving average price is $2.89 and its 200-day moving average price is $2.93.

Wall Street Analyst Weigh In

LCID has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $3.50 to $1.13 in a report on Monday, February 24th. Stifel Nicolaus dropped their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Wednesday, February 26th. Finally, Benchmark initiated coverage on Lucid Group in a report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.73.

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.