Main Management ETF Advisors LLC Purchases Shares of 244,440 Lucid Group, Inc. (NASDAQ:LCID)

Main Management ETF Advisors LLC purchased a new position in Lucid Group, Inc. (NASDAQ:LCID) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 244,440 shares of the company’s stock, valued at approximately $863,000.

A number of other hedge funds have also recently modified their holdings of LCID. Orion Portfolio Solutions LLC purchased a new stake in shares of Lucid Group during the third quarter worth about $84,000. XTX Topco Ltd raised its position in Lucid Group by 552.2% during the 3rd quarter. XTX Topco Ltd now owns 171,294 shares of the company’s stock valued at $605,000 after purchasing an additional 145,031 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in Lucid Group in the 3rd quarter worth approximately $60,000. Point72 DIFC Ltd bought a new stake in shares of Lucid Group in the 3rd quarter worth approximately $754,000. Finally, Point72 Italy S.r.l. purchased a new position in shares of Lucid Group during the third quarter valued at approximately $3,209,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insider Activity at Lucid Group

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

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.30 on Friday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $5.31. The firm has a 50-day moving average of $2.54 and a 200 day moving average of $3.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Analyst Ratings Changes

Several equities research analysts have recently commented on LCID shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Royal Bank of Canada lowered their target price on 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. Finally, Cfra set a $2.00 price target on Lucid Group in a research report on Thursday, October 17th. 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 company’s stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and an average target price of $3.16.

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.