Axim Planning & Wealth Purchases Shares of 13,500 Lucid Group, Inc. (NASDAQ:LCID)

Axim Planning & Wealth purchased a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,500 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after purchasing an additional 6,771 shares in the last quarter. Vanguard Group Inc. raised its holdings in Lucid Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after acquiring an additional 489,187 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lucid Group by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock worth $1,242,000 after purchasing an additional 23,752 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Lucid Group by 131.3% in the second quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock worth $1,097,000 after purchasing an additional 238,628 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Lucid Group by 42.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock valued at $6,951,000 after buying an additional 732,463 shares during the period. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LCID. Cfra set a $2.00 target price on Lucid Group in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Thursday, September 12th. Robert W. Baird reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. Finally, R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.27.

Lucid Group Price Performance

NASDAQ LCID opened at $2.18 on Thursday. Lucid Group, Inc. has a 1 year low of $2.02 and a 1 year high of $5.31. The stock’s 50-day moving average price is $3.06 and its two-hundred day moving average price is $3.08. The company has a market cap of $5.10 billion, a PE ratio of -1.63 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Insider Activity

In other news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the purchase, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Public Investment Fund purchased 374,717,927 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the purchase, the director now owns 8,041,393 shares in the company, valued at $20,827,207.87. This represents a -100.00 % increase in their position. The disclosure for this purchase can be found here. 61.26% of the stock is owned by company insiders.

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.