Lucid Group (NASDAQ:LCID) Trading Down 3.8% – Should You Sell?

by · The Markets Daily

Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) shares traded down 3.8% during mid-day trading on Monday . The stock traded as low as $10.61 and last traded at $10.64. 5,469,741 shares changed hands during trading, a decline of 35% from the average session volume of 8,457,076 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their target price on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Lucid Group in a research note on Wednesday, November 19th. Zacks Research lowered Lucid Group from a “hold” rating to a “strong sell” rating in a research note on Thursday. Royal Bank Of Canada dropped their target price on Lucid Group from $20.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Finally, Robert W. Baird set a $14.00 price target on Lucid Group in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $18.92.

Check Out Our Latest Stock Report on LCID

Lucid Group Trading Down 3.8%

The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34. The stock has a 50-day simple moving average of $11.87 and a 200-day simple moving average of $18.17.

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

Hedge Funds Weigh In On Lucid Group

Several large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new stake in Lucid Group in the third quarter valued at about $1,361,978,000. Uber Technologies Inc bought a new position in Lucid Group during the 3rd quarter worth approximately $326,283,000. Marshall Wace LLP grew its position in shares of Lucid Group by 2,398.5% in the 2nd quarter. Marshall Wace LLP now owns 12,652,537 shares of the company’s stock worth $26,697,000 after acquiring an additional 12,146,136 shares in the last quarter. Norges Bank bought a new stake in shares of Lucid Group in the 2nd quarter valued at approximately $16,469,000. Finally, Linden Advisors LP bought a new stake in shares of Lucid Group in the 2nd quarter valued at approximately $9,885,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Company Profile

(Get Free Report)

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.

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