Lucid Group, Inc. (NASDAQ:LCID) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 4,583.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,060,232 shares of the company's stock after acquiring an additional 2,016,245 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.07% of Lucid Group worth $6,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caption Management LLC increased its stake in Lucid Group by 71.4% in the 4th quarter. Caption Management LLC now owns 16,814 shares of the company's stock worth $51,000 after purchasing an additional 7,007 shares in the last quarter. Brevan Howard Capital Management LP increased its position in shares of Lucid Group by 222.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 159,064 shares of the company's stock worth $480,000 after acquiring an additional 109,685 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Lucid Group during the fourth quarter valued at approximately $41,000. Captrust Financial Advisors lifted its position in shares of Lucid Group by 54.9% in the 4th quarter. Captrust Financial Advisors now owns 29,893 shares of the company's stock valued at $90,000 after acquiring an additional 10,591 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Lucid Group in the 4th quarter worth approximately $6,852,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Trading Up 2.9 %

Lucid Group stock opened at $2.32 on Friday. 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 firm has a market capitalization of $7.02 billion, a PE ratio of -1.73 and a beta of 0.88. The business's 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.55.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued 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). 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 the consensus estimate of $250.50 million. During the same period in the prior year, the firm earned ($0.27) earnings per share. The business's quarterly revenue was up 36.1% on a year-over-year basis. Equities research analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Wednesday. TD Cowen began coverage on shares of Lucid Group in a report on Friday, March 7th. They set a "hold" rating and a $2.30 price target for the company. Bank of America downgraded shares of Lucid Group from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Finally, Cowen initiated coverage on shares of Lucid Group in a report on Thursday, March 6th. They set a "hold" rating on the stock. Two 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2.68.

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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