Lucid Group (NASDAQ:LCID) Stock Price Down 9.9% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID)’s share price was down 9.9% during trading on Tuesday . The stock traded as low as $5.99 and last traded at $6.00. Approximately 12,446,774 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 12,364,580 shares. The stock had previously closed at $6.66.

Trending Headlines about Lucid Group

Here are the key news stories impacting Lucid Group this week:

• Positive Sentiment: Lucid’s recent Q2 production and delivery update helped lift sentiment earlier in the week, with investors reacting to year-over-year gains and a leadership overhaul aimed at improving execution. Lucid Stock Surges on Strong EV Delivery and Production Results
• Positive Sentiment: The broader EV sector saw a rebound on Monday, which briefly supported LCID alongside rivals like Tesla and Rivian. Tesla Rises 6% on Robotaxi and Delivery Momentum, Rivian and Lucid Jump 7%, Nio Gains 5% in EV Sector Rally
• Neutral Sentiment: Analysts and market commentary continue to focus on Lucid’s leadership reset and whether the stock remains undervalued after the restructuring. Lucid Group (LCID) Resets Leadership, Is It Still 21% Undervalued?
• Negative Sentiment: Multiple law firms announced or reiterated shareholder class actions tied to alleged misleading statements about Lucid’s business, deliveries, and manufacturing capabilities, adding legal uncertainty for investors. Pomerantz Law Firm Announces the Filing of a Class Action Against Lucid Group, Inc. and Certain Officers – LCID
• Negative Sentiment: The stock also came under pressure as investors were reminded that Lucid remains capital-intensive, with concerns about cash needs and profitability continuing to weigh on sentiment. Why Lucid Stock Dropped Today

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $14.00 target price on shares of Lucid Group in a research report on Monday, May 4th. Evercore set a $6.00 price objective on Lucid Group in a research note on Monday, May 11th. Morgan Stanley set a $5.00 price objective on Lucid Group in a report on Wednesday, May 6th. Citigroup reaffirmed a “buy” rating and issued a $14.00 target price (down from $17.00) on shares of Lucid Group in a report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. One 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. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $9.67.

Lucid Group Trading Down 10.1%

The company has a 50 day simple moving average of $5.83 and a 200 day simple moving average of $8.62. The company has a current ratio of 1.02, a quick ratio of 0.48 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $2.34 billion, a PE ratio of -0.45 and a beta of 0.83.

Institutional Investors Weigh In On Lucid Group

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in 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 buying an additional 2,740 shares during the last quarter. Brown Advisory Inc. lifted its position in Lucid Group by 47.5% in the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock valued at $33,000 after purchasing an additional 5,000 shares during the period. Jump Financial LLC acquired a new stake in Lucid Group in the second quarter valued at about $41,000. Worldquant Millennium Advisors LLC purchased a new stake in Lucid Group in the 2nd quarter valued at approximately $59,000. Finally, Leonteq Securities AG purchased a new stake in Lucid Group in the 4th quarter valued at approximately $67,000. 75.17% of the stock is owned by institutional investors and hedge funds.

About Lucid Group

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.