Lucid Group (NASDAQ:LCID) Shares Down 5.8% – Should You Sell?

Shares of Lucid Group, Inc. (NASDAQ:LCID) traded down 5.8% during mid-day trading on Monday . The company traded as low as $11.80 and last traded at $11.81. 7,512,192 shares traded hands during trading, a decline of 32% from the average session volume of 11,065,294 shares. The stock had previously closed at $12.54.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a report on Monday, December 8th. Morgan Stanley lowered shares of Lucid Group from a “buy” rating to an “underweight” rating and decreased their price target for the company from $30.00 to $10.00 in a report on Monday, December 8th. Finally, Stifel Nicolaus lowered their price target on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a research report on Monday, November 17th. Two investment 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. Based on data from MarketBeat, Lucid Group presently has an average rating of “Reduce” and an average price target of $21.54.

Lucid Group Stock Performance

The firm’s 50 day simple moving average is $16.51 and its 200-day simple moving average is $20.46. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -1.10 and a beta of 0.87. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.34 and a current ratio of 1.81.

Lucid Group (NASDAQ:LCID) last posted 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 for the quarter, compared to analysts’ expectations of $378.44 million. Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The company’s revenue was up 68.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.76) earnings per share. Analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LCID. Cigna Investments Inc. New acquired a new position in Lucid Group during the 2nd quarter worth approximately $25,000. Valeo Financial Advisors LLC raised its stake in Lucid Group by 9.7% in the second 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. Tyche Wealth Partners LLC acquired a new stake in Lucid Group during the 2nd quarter valued at $26,000. Integrity Alliance LLC. bought a new stake in shares of Lucid Group during the 1st quarter worth about $27,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Lucid Group by 111.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,938 shares of the company’s stock valued at $29,000 after purchasing an additional 6,295 shares during the last quarter. 75.17% of the stock is owned by institutional investors.

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.