Two Sigma Securities LLC Has $236,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Two Sigma Securities LLC reduced its position in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 69.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,239 shares of the company's stock after selling 181,099 shares during the period. Two Sigma Securities LLC's holdings in Lucid Group were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LCID. Nebula Research & Development LLC increased its stake in Lucid Group by 134.9% during the 4th quarter. Nebula Research & Development LLC now owns 210,616 shares of the company's stock worth $636,000 after acquiring an additional 120,965 shares during the period. Public Investment Fund increased its stake in Lucid Group by 28.8% during the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock worth $5,348,084,000 after acquiring an additional 396,188,386 shares during the period. Voya Investment Management LLC increased its stake in Lucid Group by 4.0% during the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company's stock worth $363,000 after acquiring an additional 4,591 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Lucid Group by 30.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 683,257 shares of the company's stock worth $2,064,000 after acquiring an additional 160,518 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Lucid Group during the 4th quarter worth $113,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LCID has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price objective 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. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a report on Thursday, April 3rd. Bank of America downgraded Lucid Group from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Finally, TD Cowen initiated coverage on Lucid Group in a research report on Friday, March 7th. They issued a "hold" rating and a $2.30 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $2.68.

Lucid Group Stock Up 1.2 %

Shares of NASDAQ LCID opened at $2.56 on Wednesday. The company has a 50 day simple moving average of $2.36 and a 200 day simple moving average of $2.57. The firm has a market cap of $7.76 billion, a PE ratio of -1.91 and a beta of 0.88. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. 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 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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