1 week Ago By Defense World Staff
Norges Bank 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,127,976 shares of the company’s stock, valued at approximately $9,446,000.
Norges Bank owned about 0.10% of Lucid Group as of its most recent filing with the Securities and Exchange Commission. A number of other institutional investors have also made changes to their positions in the stock.
Raymond James Financial Inc. acquired a new position in Lucid Group during the fourth quarter valued at approximately $780,000. Nisa Investment Advisors LLC grew its stake in Lucid Group by 4,301.
7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock valued at $771,000 after buying an additional 249,500 shares during the last quarter. Empowered Funds LLC bought a new position in Lucid Group in the 4th quarter worth $301,000.
New York State Common Retirement Fund lifted its position in Lucid Group by 5.7% during the 4th quarter. New York State Common Retirement Fund now owns 517,238 shares of the company’s stock worth $1,562,000 after acquiring an additional 28,000 shares during the last quarter.
Finally, Lecap Asset Management Ltd. bought a new stake in Lucid Group during the fourth quarter valued at about $861,000. 75.
17% of the stock is owned by institutional investors. Analysts Set New Price Targets LCID has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Lucid Group from $3.
50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $5.
00 price target on shares of Lucid Group in a report on Friday, March 7th. TD Cowen began coverage on shares of Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.
30 price objective on the stock. Morgan Stanley upgraded shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price for the company in a research note on Tuesday, March 18th.
Finally, Bank of America lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th.
Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Lucid Group currently has an average rating of “Hold” and a consensus price target of $2.69.
Lucid Group Stock Down 5.3 % Shares of LCID opened at $2.32 on Wednesday.
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 50-day moving average price of $2.54 and a two-hundred day moving average price of $2.
67. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of -1.
73 and a beta of 0.88. Lucid Group, Inc.
has a 12 month low of $1.93 and a 12 month high of $4.43.
Lucid Group Company Profile ( 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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