Lucid Group (NASDAQ:LCID) Trading Down 5.2% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID) shares fell 5.2% on Tuesday . The stock traded as low as $2.67 and last traded at $2.64. 33,075,493 shares changed hands during trading, a decline of 59% from the average session volume of 80,463,875 shares. The stock had previously closed at $2.78.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LCID shares. Benchmark began coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target on the stock. Royal Bank of Canada reduced their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 19th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Monday, November 11th. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.50 to $1.13 in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.90.

Lucid Group Trading Down 4.9 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of -1.97 and a beta of 0.93. The business has a fifty day moving average price of $2.99 and a 200 day moving average price of $2.97.

Hedge Funds Weigh In On Lucid Group

Several large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group in the 4th quarter worth $28,000. Accredited Investors Inc. bought a new position in Lucid Group during the fourth quarter valued at about $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group during the fourth quarter valued at about $31,000. DRW Securities LLC acquired a new position in Lucid Group in the 4th quarter valued at approximately $31,000. Finally, First National Corp MA ADV bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $32,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.