181,200 Shares in Lucid Group, Inc. (NASDAQ:LCID) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Lucid Group, Inc. ( NASDAQ:LCID – Free Report ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 181,200 shares of the company’s stock, valued at approximately $547,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Lucid Group by 29.



4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,595,701 shares of the company’s stock valued at $19,919,000 after purchasing an additional 1,499,034 shares during the last quarter.

Bank of New York Mellon Corp boosted its position in shares of Lucid Group by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,958,566 shares of the company’s stock valued at $8,935,000 after buying an additional 85,370 shares during the period.

Swiss National Bank grew its stake in shares of Lucid Group by 2.1% during the fourth quarter. Swiss National Bank now owns 1,839,000 shares of the company’s stock valued at $5,554,000 after buying an additional 37,500 shares during the last quarter.

Van ECK Associates Corp raised its holdings in shares of Lucid Group by 103.3% in the fourth quarter. Van ECK Associates Corp now owns 1,246,461 shares of the company’s stock worth $3,764,000 after buying an additional 633,410 shares during the period.

Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Lucid Group by 114.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 999,601 shares of the company’s stock worth $3,019,000 after acquiring an additional 533,973 shares during the last quarter.

Hedge funds and other institutional investors own 75.17% of the company’s stock. Wall Street Analysts Forecast Growth Several equities analysts have commented on LCID shares.

Stifel Nicolaus cut their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th.

Bank of America downgraded shares of Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.00 to $1.00 in a research note on Wednesday, February 26th.

TD Cowen started coverage on shares of Lucid Group in a research report on Friday, March 7th. They issued a “hold” rating and a $2.30 price objective for the company.

Morgan Stanley raised shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price on the stock in a research report on Tuesday, March 18th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.

00 price target on shares of Lucid Group in a report on Thursday. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.

69. Lucid Group Stock Performance Shares of NASDAQ:LCID opened at $2.32 on Friday.

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 company has a market capitalization of $7.03 billion, a price-to-earnings ratio of -1.

73 and a beta of 0.97. The firm has a 50 day moving average of $2.

57 and a 200 day moving average of $2.72. Lucid Group, Inc.

has a 52 week low of $1.93 and a 52 week high of $4.43.

About Lucid Group ( Free Report ) 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.

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