Lucid Group (NASDAQ:LCID) Trading Down 5.1% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID)’s share price was down 5.1% during mid-day trading on Monday . The stock traded as low as $5.64 and last traded at $5.73. Approximately 16,769,958 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 11,476,791 shares. The stock had previously closed at $6.04.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LCID shares. Cantor Fitzgerald restated a “neutral” rating and issued a $14.00 price target on shares of Lucid Group in a report on Monday, May 4th. Citigroup restated a “buy” rating and issued a $14.00 price target (down from $17.00) on shares of Lucid Group in a report on Friday, May 15th. Zacks Research upgraded Lucid Group from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada lowered their price target on Lucid Group from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. Finally, Morgan Stanley set a $5.00 price target on Lucid Group in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three 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 $9.67.

Lucid Group Stock Up 1.2%

The company has a debt-to-equity ratio of 3.00, a current ratio of 1.02 and a quick ratio of 0.48. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -0.43 and a beta of 0.88. The firm has a 50-day moving average price of $8.20 and a two-hundred day moving average price of $10.65.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($3.46) earnings per share for the quarter, missing the consensus estimate of ($2.53) by ($0.93). The firm had revenue of $282.47 million for the quarter, compared to analyst estimates of $358.46 million. Lucid Group had a negative return on equity of 304.01% and a negative net margin of 248.09%.The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Lucid Group, Inc. will post -10.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Lucid Group by 10.9% during the first quarter. Bank of America Corp DE now owns 1,919,073 shares of the company’s stock worth $18,289,000 after buying an additional 189,134 shares during the period. Edgestream Partners L.P. bought a new position in Lucid Group in the first quarter valued at approximately $976,000. Janus Henderson Group PLC grew its stake in Lucid Group by 28.0% in the first quarter. Janus Henderson Group PLC now owns 67,686 shares of the company’s stock valued at $646,000 after purchasing an additional 14,816 shares in the last quarter. Amundi grew its stake in Lucid Group by 23.2% in the first quarter. Amundi now owns 48,021 shares of the company’s stock valued at $458,000 after purchasing an additional 9,053 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Lucid Group by 1,574.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company’s stock worth $28,000 after purchasing an additional 2,740 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Company Profile

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.