Laird Norton Wetherby Wealth Management LLC Has $38,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Laird Norton Wetherby Wealth Management LLC reduced its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 62.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,697 shares of the company’s stock after selling 21,529 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Lucid Group were worth $38,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LCID. Raymond James Financial Inc. bought a new stake in shares of Lucid Group during the fourth quarter worth $780,000. XTX Topco Ltd grew its holdings in shares of Lucid Group by 395.7% during the fourth quarter. XTX Topco Ltd now owns 849,140 shares of the company’s stock worth $2,564,000 after purchasing an additional 677,846 shares during the last quarter. Norges Bank bought a new stake in shares of Lucid Group during the fourth quarter worth $9,446,000. Nisa Investment Advisors LLC grew its holdings in shares of Lucid Group by 4,301.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after purchasing an additional 249,500 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock worth $49,950,000 after purchasing an additional 12,803,987 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of NASDAQ:LCID opened at $2.84 on Friday. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of -2.12 and a beta of 0.88. The firm’s 50 day simple moving average is $2.42 and its 200 day simple moving average is $2.56. 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, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results 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). The firm had revenue of $235.05 million during the quarter, compared to analyst estimates of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The business’s revenue was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.27) earnings per share. As a group, sell-side analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Wednesday, May 7th. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Lucid Group in a report on Friday, March 7th. Stifel Nicolaus decreased their price target on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Finally, Bank of America cut Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.