Signaturefd LLC Purchases 12,036 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Signaturefd LLC lifted its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 203.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,939 shares of the company’s stock after buying an additional 12,036 shares during the quarter. Signaturefd LLC’s holdings in Lucid Group were worth $76,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LCID. Asset Management One Co. Ltd. grew its position in shares of Lucid Group by 33.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 344,947 shares of the company’s stock worth $1,928,000 after buying an additional 86,674 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Lucid Group by 32.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 179,136 shares of the company’s stock worth $1,001,000 after buying an additional 43,561 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Lucid Group by 31.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 315,800 shares of the company’s stock worth $1,765,000 after buying an additional 75,700 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Lucid Group by 15.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 172,105 shares of the company’s stock valued at $962,000 after purchasing an additional 22,425 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Lucid Group by 52.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 13,261 shares of the company’s stock valued at $74,000 after purchasing an additional 4,590 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LCID has been the topic of a number of recent research reports. Citigroup reaffirmed a “neutral” rating and set a $2.90 price objective on shares of Lucid Group in a research report on Monday, April 22nd. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Robert W. Baird dropped their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Finally, Stifel Nicolaus dropped their price objective on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, Lucid Group presently has an average rating of “Hold” and a consensus target price of $4.34.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.62 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The company has a market cap of $6.03 billion, a PE ratio of -1.87 and a beta of 1.01. The business has a 50-day simple moving average of $2.80 and a two-hundred day simple moving average of $3.54. Lucid Group, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $8.37.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.01). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business had revenue of $157.20 million during the quarter, compared to analyst estimates of $179.88 million. During the same period in the prior year, the business posted ($0.40) EPS. Lucid Group’s revenue was down 39.0% compared to the same quarter last year. As a group, equities analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.

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.