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

Maryland State Retirement & Pension System grew its stake in Lucid Group, Inc. (NASDAQ:LCID) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,574 shares of the company’s stock after purchasing an additional 6,698 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Lucid Group were worth $198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LCID. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group in the 4th quarter worth about $28,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth approximately $31,000. First National Corp MA ADV purchased a new stake in shares of Lucid Group during the fourth quarter worth approximately $32,000. Citizens Financial Group Inc. RI purchased a new position in Lucid Group in the 4th quarter valued at $32,000. Finally, Yousif Capital Management LLC acquired a new stake in Lucid Group during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Ratings Changes

LCID has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target on the stock in a research report on Tuesday, March 18th. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a report on Wednesday, February 26th. TD Cowen assumed coverage on Lucid Group in a report on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.69.

Lucid Group Stock Performance

Shares of LCID stock opened at $2.43 on Wednesday. The firm has a 50 day moving average of $2.65 and a two-hundred day moving average of $2.77. The stock has a market capitalization of $7.37 billion, a PE ratio of -1.81 and a beta of 0.97. 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, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43.

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.