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

Shares of Lucid Group, Inc. (NASDAQ:LCID) fell 5.1% on Monday . The company traded as low as $5.64 and last traded at $5.73. 16,769,958 shares traded hands during trading, an increase of 46% from the average session volume of 11,476,791 shares. The stock had previously closed at $6.04.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LCID. Evercore set a $6.00 price target on Lucid Group in a report on Monday, May 11th. Robert W. Baird set a $6.00 price target on Lucid Group in a report on Wednesday, May 6th. Royal Bank Of Canada lowered their price target on Lucid Group from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Monday, April 13th. Zacks Research upgraded Lucid Group from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Benchmark downgraded Lucid Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.67.

Lucid Group Trading Down 5.1%

The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -0.43 and a beta of 0.88. The company has a quick ratio of 0.48, a current ratio of 1.02 and a debt-to-equity ratio of 3.00. The business has a 50-day moving average of $8.37 and a 200-day moving average of $10.83.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($3.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 248.09% and a negative return on equity of 304.01%. Lucid Group’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. As a group, research analysts forecast that Lucid Group, Inc. will post -10.75 earnings per share for the current year.

Institutional Trading of Lucid Group

Institutional investors have recently bought and sold shares of the company. Leonteq Securities AG acquired a new stake in Lucid Group during the fourth quarter valued at $67,000. Caitong International Asset Management Co. Ltd acquired a new stake in Lucid Group during the fourth quarter valued at $77,000. Eurizon Capital SGR S.p.A. acquired a new stake in Lucid Group during the fourth quarter valued at $86,000. HITE Hedge Asset Management LLC acquired a new stake in Lucid Group during the third quarter valued at $212,000. Finally, Vance Wealth LLC acquired a new stake in Lucid Group during the fourth quarter valued at $106,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.