Moors & Cabot Inc. acquired a new position in Lucid Group Inc (NASDAQ:LCID) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $31,000.
A number of other hedge funds also recently bought and sold shares of the stock. Truist Financial Corp acquired a new stake in Lucid Group in the third quarter worth about $605,000. Advisor Group Holdings Inc. acquired a new stake in Lucid Group in the 3rd quarter valued at about $3,700,000. PNC Financial Services Group Inc. acquired a new stake in Lucid Group in the 3rd quarter valued at about $302,000. Hancock Whitney Corp acquired a new stake in Lucid Group in the 3rd quarter valued at about $254,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Lucid Group in the 3rd quarter valued at about $25,000. 68.97% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on LCID. Bank of America upped their price target on shares of Lucid Group from $30.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, November 10th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Lucid Group from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup started coverage on shares of Lucid Group in a report on Thursday, December 30th. They issued a “buy” rating and a $57.00 price target for the company. Guggenheim started coverage on shares of Lucid Group in a research note on Monday, December 20th. They set a “neutral” rating and a $38.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Lucid Group from $12.00 to $16.00 and gave the company an “underweight” rating in a research note on Wednesday, November 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of 37.00.
Lucid Group (NASDAQ:LCID) last issued its earnings results on Monday, November 15th. The company reported -0.41 earnings per share for the quarter, missing analysts’ consensus estimates of -0.22 by -0.19. The firm had revenue of 0.23 million during the quarter. Sell-side analysts forecast that Lucid Group Inc will post -2 earnings per share for the current fiscal year.
Lucid Group Company Profile
Churchill Capital Corp IV was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
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