Worldquant Millennium Advisors LLC Buys New Position in Lucid Group, Inc. (NASDAQ:LCID)

Worldquant Millennium Advisors LLC purchased a new position in Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,784,855 shares of the company’s stock, valued at approximately $5,390,000. Worldquant Millennium Advisors LLC owned 0.06% of Lucid Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LCID. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Lucid Group by 43.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company’s stock valued at $43,000 after purchasing an additional 4,296 shares in the last quarter. Sei Investments Co. raised its position in shares of Lucid Group by 14.0% in the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock valued at $109,000 after purchasing an additional 4,431 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Lucid Group by 4.0% in the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company’s stock valued at $363,000 after purchasing an additional 4,591 shares in the last quarter. Alpine Global Management LLC raised its position in shares of Lucid Group by 7.4% in the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock valued at $203,000 after purchasing an additional 4,653 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Lucid Group by 1.9% in the 4th quarter. Arizona State Retirement System now owns 270,753 shares of the company’s stock valued at $818,000 after purchasing an additional 5,022 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.77 on Thursday. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The firm’s 50-day simple moving average is $2.46 and its 200 day simple moving average is $2.57. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The stock has a market cap of $8.45 billion, a P/E ratio of -2.07 and a beta of 0.88.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data 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 net margin of 406.63% and a negative return on equity of 74.67%. The company had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Lucid Group’s revenue for the quarter was up 36.1% compared to the same quarter last year. Equities analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LCID. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Stifel Nicolaus cut their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Robert W. Baird raised their target price on Lucid Group from $2.00 to $3.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.68.

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.