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

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

A number of other institutional investors also recently modified their holdings of the company. Wedge Capital Management L L P NC bought a new position in Lucid Group in the fourth quarter worth about $33,000. Nisa Investment Advisors LLC raised its stake in Lucid Group by 4,301.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock worth $771,000 after buying an additional 249,500 shares in the last quarter. SG Americas Securities LLC raised its stake in Lucid Group by 3.4% in the fourth quarter. SG Americas Securities LLC now owns 157,160 shares of the company's stock worth $475,000 after buying an additional 5,121 shares in the last quarter. Atlas Private Wealth Advisors bought a new position in Lucid Group in the fourth quarter worth about $35,000. Finally, Geneos Wealth Management Inc. raised its stake 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 buying an additional 7,080 shares in the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Stock Down 3.8%

Shares of NASDAQ:LCID traded down $0.10 during trading on Friday, reaching $2.56. 86,258,541 shares of the stock traded hands, compared to its average volume of 70,375,207. The stock has a 50-day moving average of $2.48 and a two-hundred day moving average of $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 debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock has a market cap of $7.81 billion, a P/E ratio of -1.91 and a beta of 0.88.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings results 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 net margin of 406.63% and a negative return on equity of 74.67%. The firm had revenue of $235.05 million for the quarter, compared to analysts' expectations of $250.50 million. During the same quarter in the previous year, the company earned ($0.27) EPS. The company's quarterly revenue was up 36.1% compared to the same quarter last year. As a group, sell-side analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on LCID. Morgan Stanley raised shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price for the company in a research note on Tuesday, March 18th. Bank of America downgraded shares of Lucid Group from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Robert W. Baird raised their target price on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. 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 research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.