Two Sigma Advisers LP Takes Position in Lucid Group, Inc. (NASDAQ:LCID)

Two Sigma Advisers LP purchased a new stake in Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,299,000 shares of the company’s stock, valued at approximately $34,123,000.

Several other institutional investors have also recently bought and sold shares of LCID. Wedge Capital Management L L P NC bought a new position in Lucid Group in the 4th quarter valued at $33,000. Nisa Investment Advisors LLC lifted its stake in shares of Lucid Group by 4,301.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock valued at $771,000 after acquiring an additional 249,500 shares during the period. SG Americas Securities LLC boosted its holdings in Lucid Group by 3.4% in the fourth quarter. SG Americas Securities LLC now owns 157,160 shares of the company’s stock valued at $475,000 after acquiring an additional 5,121 shares during the last quarter. Atlas Private Wealth Advisors bought a new position in Lucid Group in the fourth quarter valued at about $35,000. Finally, Geneos Wealth Management Inc. increased its position in Lucid Group by 55.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 19,849 shares of the company’s stock worth $60,000 after purchasing an additional 7,080 shares during the period. Institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LCID has been the topic of a number of research reports. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and cut their target price for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Morgan Stanley raised shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target for the company in a research note on Tuesday, March 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of Lucid Group in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.68.

Lucid Group Stock Up 10.4%

Lucid Group stock opened at $2.96 on Wednesday. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. 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 firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of -2.21 and a beta of 0.88. The company’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $2.56.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The firm had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. During the same period in the prior year, the business earned ($0.27) earnings per share. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lucid Group, Inc. will post -1.25 EPS for the current year.

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.