Citizens Financial Group Inc. RI Invests $32,000 in Lucid Group, Inc. (NASDAQ:LCID)

Citizens Financial Group Inc. RI bought a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,511 shares of the company’s stock, valued at approximately $32,000.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LCID shares. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Lucid Group in a report on Friday, March 7th. TD Cowen initiated coverage on Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Finally, Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.69.

Lucid Group Price Performance

Shares of NASDAQ:LCID opened at $2.09 on Friday. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a market cap of $6.34 billion, a price-to-earnings ratio of -1.56 and a beta of 0.97. The firm has a 50 day simple moving average of $2.75 and a 200 day simple moving average of $2.86.

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.