Coldstream Capital Management Inc. Invests $53,000 in Lucid Group, Inc. (NASDAQ:LCID)

Coldstream Capital Management Inc. purchased a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the 3rd quarter, Holdings Channel reports. The firm purchased 15,773 shares of the company’s stock, valued at approximately $53,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 valued at $17,991,000 after acquiring an additional 2,335,452 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 in the last quarter. Point72 Italy S.r.l. acquired a new position in shares of Lucid Group during the 3rd quarter worth approximately $3,209,000. Rhumbline Advisers raised 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 worth $1,936,000 after purchasing an additional 46,997 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Lucid Group by 131.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after buying an additional 238,628 shares during the last quarter. 75.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on LCID shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Royal Bank of Canada dropped their target price 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. Cfra set a $2.00 price target on Lucid Group in a report on Thursday, October 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research note on Tuesday, October 8th. Finally, 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 report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.16.

Lucid Group Stock Up 1.1 %

NASDAQ LCID opened at $2.76 on Wednesday. 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 cap of $8.31 billion, a price-to-earnings ratio of -2.06 and a beta of 1.08. The company has a 50 day moving average of $2.43 and a 200-day moving average of $2.99. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.84.

Insider Buying and Selling at Lucid Group

In related news, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the transaction, the director now owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 61.26% of the company’s stock.

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.