Two Sigma Investments LP Grows Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

Two Sigma Investments LP raised its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 4,320.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,851,907 shares of the company's stock after buying an additional 15,493,320 shares during the quarter. Two Sigma Investments LP owned approximately 0.53% of Lucid Group worth $47,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Lucid Group during the fourth quarter worth about $780,000. XTX Topco Ltd lifted its position in Lucid Group by 395.7% during the 4th quarter. XTX Topco Ltd now owns 849,140 shares of the company's stock worth $2,564,000 after acquiring an additional 677,846 shares during the period. Norges Bank acquired a new stake in Lucid Group during the 4th quarter worth approximately $9,446,000. Nisa Investment Advisors LLC grew its stake in shares of Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock valued at $771,000 after purchasing an additional 249,500 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock valued at $49,950,000 after purchasing an additional 12,803,987 shares during the period. Hedge funds and other institutional investors own 75.17% of the company's stock.

Lucid Group Price Performance

LCID stock traded down $0.11 during trading on Thursday, reaching $2.66. 113,601,970 shares of the company were exchanged, compared to its average volume of 69,706,359. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock's 50 day moving average price is $2.46 and its 200 day moving average price is $2.57. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.43. The company has a market cap of $8.11 billion, a P/E ratio of -1.99 and a beta of 0.88.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LCID shares. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target for the company in a report on Tuesday, March 18th. Stifel Nicolaus reduced their target price on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Robert W. Baird lifted their target price on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Bank of America cut shares of Lucid Group from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $3.00 to $1.00 in a report on Wednesday, February 26th. Finally, TD Cowen started coverage on Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.68.

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.