B. Riley Wealth Advisors Inc. Increases Position in Lucid Group, Inc. (NASDAQ:LCID)

B. Riley Wealth Advisors Inc. raised its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 14.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,191 shares of the company’s stock after purchasing an additional 8,074 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Lucid Group were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co lifted its position in Lucid Group by 34.9% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after buying an additional 3,549 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock valued at $172,000 after purchasing an additional 3,715 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Lucid Group by 22.0% during the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock valued at $90,000 after purchasing an additional 4,604 shares during the last quarter. Amalgamated Bank raised its position in Lucid Group by 12.5% in the 2nd quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after purchasing an additional 5,337 shares during the period. Finally, Xponance Inc. lifted its stake in Lucid Group by 20.8% in the second quarter. Xponance Inc. now owns 31,938 shares of the company’s stock worth $83,000 after purchasing an additional 5,493 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Insiders Place Their Bets

In other news, Director Public Investment Fund acquired 374,717,927 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the acquisition, the director now owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 61.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LCID shares. Royal Bank of Canada decreased their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a report on Tuesday, October 8th. Finally, R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.16.

Lucid Group Trading Up 14.8 %

NASDAQ:LCID opened at $3.02 on Friday. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.49. 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 50-day moving average price of $2.39 and a 200-day moving average price of $2.98. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of -2.25 and a beta of 1.08.

Lucid Group Profile

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.