Lucid Group (NASDAQ:LCID) Shares Down 0.2% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID) traded down 0.2% on Monday . The company traded as low as $2.64 and last traded at $2.76. 38,665,526 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 80,395,047 shares. The stock had previously closed at $2.76.

Analyst Ratings Changes

Several analysts have recently commented on LCID shares. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Tuesday, January 7th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Finally, Royal Bank of Canada cut their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and a consensus target price of $3.04.

Lucid Group Price Performance

The company has a 50-day moving average price of $2.78 and a 200-day moving average price of $3.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of -2.17 and a beta of 0.93.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $200.04 million for the quarter, compared to analyst estimates of $199.50 million. During the same period in the prior year, the business earned ($0.28) EPS. On average, equities research analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co raised its stake in shares of Lucid Group by 27.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock valued at $62,000 after purchasing an additional 3,816 shares during the period. Greenleaf Trust raised its holdings in shares of Lucid Group by 22.0% in the third quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock valued at $90,000 after purchasing an additional 4,604 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Lucid Group by 73.7% during the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after purchasing an additional 5,031 shares during the last quarter. SG Americas Securities LLC grew its position in Lucid Group by 3.4% in the fourth quarter. SG Americas Securities LLC now owns 157,160 shares of the company’s stock valued at $475,000 after purchasing an additional 5,121 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Lucid Group by 2.5% in the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after purchasing an additional 6,374 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

About Lucid Group

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.