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 - Free Report) 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 - Get Free Report) 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.

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