Lucid Group, Inc. (NASDAQ:LCID) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 11.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,574 shares of the company’s stock after acquiring an additional 6,698 shares during the period. Maryland State Retirement & Pension System’s holdings in Lucid Group were worth $198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 worth $17,991,000 after buying an additional 2,335,452 shares during the last quarter. Point72 Italy S.r.l. purchased a new stake in Lucid Group in the third quarter valued at $3,209,000. Van ECK Associates Corp boosted its stake in Lucid Group by 103.3% in the fourth quarter. Van ECK Associates Corp now owns 1,246,461 shares of the company’s stock valued at $3,764,000 after acquiring an additional 633,410 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Lucid Group by 114.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 999,601 shares of the company’s stock worth $3,019,000 after purchasing an additional 533,973 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Lucid Group during the fourth quarter worth about $861,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on LCID. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Cowen assumed coverage on shares of Lucid Group in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Stifel Nicolaus reduced their price target on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $5.00 target price on shares of Lucid Group in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.69.

Lucid Group Stock Down 1.6 %

Shares of NASDAQ:LCID opened at $2.43 on Wednesday. The company has a market capitalization of $7.37 billion, a P/E ratio of -1.81 and a beta of 0.97. The stock’s fifty day simple moving average is $2.65 and its 200-day simple moving average is $2.77. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.43. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

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.