Lucid Group, Inc. (NASDAQ:LCID) Stake Boosted by Krane Funds Advisors LLC

Krane Funds Advisors LLC boosted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 53.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 782,309 shares of the company’s stock after acquiring an additional 271,031 shares during the quarter. Lucid Group makes up approximately 0.1% of Krane Funds Advisors LLC’s portfolio, making the stock its 23rd largest holding. Krane Funds Advisors LLC’s holdings in Lucid Group were worth $2,363,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group during the fourth quarter valued at approximately $28,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group during the fourth quarter worth approximately $31,000. First National Corp MA ADV bought a new position in Lucid Group in the 4th quarter valued at $32,000. Citizens Financial Group Inc. RI acquired a new position in Lucid Group during the 4th quarter worth about $32,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Lucid Group during the fourth quarter valued at approximately $32,000. 75.17% of the stock is currently owned by institutional investors.

Lucid Group Stock Down 1.7 %

Lucid Group stock opened at $2.28 on Monday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -1.70 and a beta of 0.88. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43. 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 stock has a fifty day simple moving average of $2.56 and a two-hundred day simple moving average of $2.69.

Analyst Ratings Changes

LCID has been the topic of a number of analyst reports. Morgan Stanley raised Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target on the stock in a research note on Tuesday, March 18th. Cowen assumed coverage on shares of Lucid Group in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Redburn Atlantic cut 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 report on Monday, February 24th. Bank of America cut shares of Lucid Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $3.00 to $1.00 in a report on Wednesday, February 26th. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.69.

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.