Quantinno Capital Management LP Makes New Investment in Lucid Group, Inc. (NASDAQ:LCID)

Quantinno Capital Management LP purchased a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 17,116 shares of the company’s stock, valued at approximately $60,000.

Other large investors have also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in Lucid Group during the second quarter valued at approximately $26,000. Frank Rimerman Advisors LLC grew its holdings in shares of Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after acquiring an additional 9,250 shares during the period. Pine Valley Investments Ltd Liability Co increased its position in Lucid Group by 34.9% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock valued at $36,000 after acquiring an additional 3,549 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Lucid Group in the second quarter valued at about $38,000. Finally, Crumly & Associates Inc. purchased a new position in Lucid Group in the third quarter worth about $38,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $4.00 price objective on shares of Lucid Group in a research report on Tuesday, October 8th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday, November 11th. Cfra set a $2.00 price objective on shares of Lucid Group in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.16.

Lucid Group Trading Up 1.1 %

LCID stock opened at $2.76 on Wednesday. The firm has a fifty day moving average price of $2.43 and a 200 day moving average price of $2.99. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.84. The firm has a market cap of $8.31 billion, a PE ratio of -2.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

Insider Buying and Selling at Lucid Group

In related news, Director Public Investment Fund acquired 374,717,927 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 61.26% of the stock is owned by company insiders.

About Lucid Group

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.