Laird Norton Wetherby Wealth Management LLC Has $38,000 Stock 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% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,697 shares of the company’s stock after selling 21,529 shares during the period. 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 the stock. Public Investment Fund raised its holdings 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 buying an additional 396,188,386 shares during the period. Vanguard Group Inc. grew its stake in shares of Lucid Group by 31.1% during the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after acquiring an additional 26,172,852 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Lucid Group by 31.4% during the 4th quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock worth $61,214,000 after acquiring an additional 4,844,782 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Lucid Group by 342.7% during the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock worth $49,950,000 after acquiring an additional 12,803,987 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Lucid Group by 51.7% during the 4th quarter. First Trust Advisors LP now owns 10,261,050 shares of the company’s stock worth $30,988,000 after acquiring an additional 3,495,392 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Price Performance

NASDAQ:LCID opened at $2.84 on Friday. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $2.42 and a 200 day simple moving average of $2.56. The stock has a market capitalization of $8.61 billion, a PE ratio of -2.12 and a beta of 0.88.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. During the same period last year, the firm earned ($0.27) earnings per share. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year. On average, research analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America cut shares of Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.00 to $1.00 in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. TD Cowen assumed coverage on shares of Lucid Group in a research note on Friday, March 7th. They set a “hold” rating and a $2.30 price target for the company. Robert W. Baird raised their price target on shares of Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.