Swiss National Bank Decreases Position in Lucid Group, Inc. (NASDAQ:LCID)

Swiss National Bank decreased its position in Lucid Group, Inc. (NASDAQ:LCID) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,801,500 shares of the company’s stock after selling 13,100 shares during the period. Swiss National Bank owned about 0.08% of Lucid Group worth $6,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LCID. Vanguard Group Inc. lifted its position in shares of Lucid Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after buying an additional 489,187 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Lucid Group by 27.7% in the second quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock valued at $7,000,000 after purchasing an additional 581,082 shares during the period. Rhumbline Advisers lifted its stake in shares of Lucid Group by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 741,822 shares of the company’s stock valued at $1,936,000 after buying an additional 46,997 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Lucid Group by 946.6% in the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock worth $1,493,000 after buying an additional 474,534 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in 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 valued at $1,242,000 after buying an additional 23,752 shares in the last quarter. 75.17% of the stock is owned by institutional investors.

Lucid Group Stock Performance

Shares of NASDAQ LCID opened at $2.14 on Wednesday. The stock’s 50-day moving average is $2.80 and its 200 day moving average is $3.04. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of -1.59 and a beta of 1.11. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $5.31. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LCID. Royal Bank of Canada lowered their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Cantor Fitzgerald reiterated 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 research report on Monday, October 7th. One 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. According to data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and a consensus price target of $3.16.

Insider Transactions at Lucid Group

In related news, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the purchase, the director now owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 61.26% of the company’s stock.

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.