Coldstream Capital Management Inc. Takes Position in Lucid Group, Inc. (NASDAQ:LCID)

Coldstream Capital Management Inc. acquired a new position in Lucid Group, Inc. (NASDAQ:LCID) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,773 shares of the company’s stock, valued at approximately $53,000.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Lucid Group by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after acquiring an additional 581,082 shares during the last quarter. Principal Financial Group Inc. lifted its position in Lucid Group by 6.0% during 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 during the period. Forum Financial Management LP boosted its stake in shares of Lucid Group by 2.7% in the 2nd quarter. Forum Financial Management LP now owns 240,963 shares of the company’s stock valued at $629,000 after purchasing an additional 6,429 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its position in shares of Lucid Group by 34.9% during 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 period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Lucid Group by 8.8% during the second quarter. Commonwealth Equity Services LLC now owns 174,677 shares of the company’s stock worth $456,000 after buying an additional 14,168 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Trading Up 1.1 %

NASDAQ LCID opened at $2.76 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The stock’s 50-day moving average is $2.43 and its 200-day moving average is $2.99. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.84. The firm has a market cap of $8.31 billion, a P/E ratio of -2.06 and a beta of 1.08.

Analyst Ratings Changes

A number of brokerages have issued reports on LCID. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Finally, Cfra set a $2.00 price target on shares of 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 issued a buy rating to the company. According to data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and a consensus price target of $3.16.

Insiders Place Their Bets

In other news, Director Public Investment Fund bought 374,717,927 shares of the stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the acquisition, the director now owns 8,041,393 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Corporate insiders own 61.26% of the company’s stock.

Lucid Group Company 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.