9,265 Shares in Lucid Group, Inc. (NASDAQ:LCID) Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,265 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors also recently added to or reduced their stakes in the company. Yousif Capital Management LLC acquired a new stake in Lucid Group during the fourth quarter valued at approximately $32,000. Sanctuary Advisors LLC acquired a new stake in Lucid Group during the second quarter valued at approximately $26,000. Crumly & Associates Inc. acquired a new stake in Lucid Group during the third quarter valued at approximately $38,000. Wedge Capital Management L L P NC acquired a new stake in Lucid Group during the fourth quarter valued at approximately $33,000. Finally, Latko Wealth Management Ltd. acquired a new stake in Lucid Group during the third quarter valued at approximately $39,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LCID shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Monday, November 11th. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Royal Bank of Canada cut their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Lucid Group has an average rating of “Hold” and an average target price of $3.04.

Lucid Group Stock Performance

Shares of Lucid Group stock opened at $2.69 on Wednesday. The firm has a fifty day moving average of $2.85 and a two-hundred day moving average of $2.98. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of -2.01 and a beta of 0.93. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

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.