Lucid Group (NASDAQ:LCID) Trading Down 3.4% – Should You Sell?

by · The Markets Daily

Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) shares dropped 3.4% during trading on Wednesday . The company traded as low as $11.09 and last traded at $11.13. Approximately 6,126,316 shares changed hands during trading, a decline of 44% from the average daily volume of 11,032,103 shares. The stock had previously closed at $11.52.

Wall Street Analyst Weigh In

LCID has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Stifel Nicolaus reduced their price target on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a report on Monday, November 17th. Finally, Morgan Stanley downgraded Lucid Group from a “buy” rating to an “underweight” rating and dropped their price objective for the company from $30.00 to $10.00 in a research report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lucid Group has a consensus rating of “Reduce” and a consensus price target of $21.54.

Read Our Latest Research Report on Lucid Group

Lucid Group Trading Down 3.4%

The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 1.19. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -1.04 and a beta of 0.86. The company’s 50-day moving average is $16.06 and its 200 day moving average is $20.26.

Lucid Group (NASDAQ:LCID – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing the consensus estimate of ($2.32) by ($0.33). The company had revenue of $336.58 million during the quarter, compared to analysts’ expectations of $378.44 million. Lucid Group had a negative return on equity of 85.13% and a negative net margin of 224.99%.Lucid Group’s revenue was up 68.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.76) EPS. Research analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current year.

Institutional Trading of Lucid Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC raised its holdings in shares of Lucid Group by 9.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company’s stock valued at $25,000 after buying an additional 1,055 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Lucid Group by 27.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,993 shares of the company’s stock worth $44,000 after acquiring an additional 3,882 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Lucid Group by 9.3% in the 2nd quarter. Amalgamated Bank now owns 55,350 shares of the company’s stock valued at $117,000 after buying an additional 4,720 shares in the last quarter. Heritage Wealth Advisors grew its holdings in shares of Lucid Group by 43.5% during the second quarter. Heritage Wealth Advisors now owns 16,500 shares of the company’s stock worth $35,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in Lucid Group by 47.5% during the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock worth $33,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Company Profile

(Get Free Report)

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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