Two Sigma Advisers LP Makes New Investment in Lucid Group, Inc. (NASDAQ:LCID)

Two Sigma Advisers LP acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,299,000 shares of the company's stock, valued at approximately $34,123,000. Two Sigma Advisers LP owned 0.38% of Lucid Group at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group during the fourth quarter worth $28,000. Accredited Investors Inc. acquired a new position in shares of Lucid Group in the 4th quarter valued at $30,000. Proficio Capital Partners LLC bought a new position in shares of Lucid Group during the 4th quarter worth about $31,000. DRW Securities LLC acquired a new stake in shares of Lucid Group during the 4th quarter valued at about $31,000. Finally, First National Corp MA ADV acquired a new stake in shares of Lucid Group during the 4th quarter valued at about $32,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on LCID shares. 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 report on Tuesday, March 18th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Wednesday, May 7th. TD Cowen initiated coverage on Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 target price for the company. Cowen assumed coverage on Lucid Group in a research note on Thursday, March 6th. They issued a "hold" rating on the stock. Finally, Robert W. Baird upped their price target on Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lucid Group presently has an average rating of "Hold" and an average price target of $2.68.

Lucid Group Stock Up 10.4%

NASDAQ LCID opened at $2.96 on Wednesday. The stock's 50 day simple moving average is $2.45 and its 200 day simple moving average is $2.56. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The firm has a market cap of $9.03 billion, a PE ratio of -2.21 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS 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 business had revenue of $235.05 million during the quarter, compared to analyst estimates of $250.50 million. During the same period in the prior year, the firm posted ($0.27) EPS. Lucid Group's revenue for the quarter was up 36.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal 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.

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