Lucid Group, Inc. (NASDAQ:LCID) Stock Holdings Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,451 shares of the company’s stock after purchasing an additional 34,705 shares during the quarter. Victory Capital Management Inc.’s holdings in Lucid Group were worth $436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LCID. Caprock Group LLC lifted its position in shares of Lucid Group by 7.4% during the 3rd quarter. Caprock Group LLC now owns 189,961 shares of the company’s stock valued at $671,000 after acquiring an additional 13,159 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after acquiring an additional 2,335,452 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Lucid Group by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after acquiring an additional 6,374 shares during the last quarter. FMR LLC lifted its position in shares of Lucid Group by 47.5% during the 3rd quarter. FMR LLC now owns 149,987 shares of the company’s stock valued at $529,000 after acquiring an additional 48,304 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new stake in shares of Lucid Group during the 3rd quarter valued at $75,000. 75.17% of the stock is owned by institutional investors.

Lucid Group Trading Up 6.1 %

NASDAQ LCID opened at $2.42 on Friday. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $7.34 billion, a PE ratio of -1.81 and a beta of 0.97. The firm’s fifty day simple moving average is $2.67 and its 200-day simple moving average is $2.79.

Analyst Ratings Changes

LCID has been the subject of a number of recent research reports. Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $3.00 to $1.00 in a research report on Wednesday, February 26th. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. TD Cowen began coverage on Lucid Group in a report on Friday, March 7th. They issued a “hold” rating and a $2.30 target price for the company. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Lucid Group in a report on Friday, March 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.