Lucid Group (NASDAQ:LCID) Trading Down 4.4% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID)’s stock price dropped 4.4% during trading on Tuesday . The stock traded as low as $4.93 and last traded at $5.02. 10,363,967 shares were traded during trading, a decline of 14% from the average session volume of 11,990,626 shares. The stock had previously closed at $5.25.

Key Stories Impacting Lucid Group

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

• Positive Sentiment: Lucid announced a partnership with Uber and Nuro to launch autonomous robo-taxis in Houston, expanding its story beyond EV manufacturing and potentially opening a new long-term revenue opportunity. Lucid (LCID) Teams Up With Uber And Nuro For Houston Robo Taxis
• Positive Sentiment: Investors have been bidding up shares on enthusiasm that the Uber-Nuro collaboration could position Lucid for growth in the autonomous ride-hailing market. LCID Stock Jumps Over 7% — Uber-Lucid-Nuro Partnership Sets Stage For Robotaxis In Houston By 2027
• Neutral Sentiment: Multiple law firms are publicizing the lead-plaintiff deadline in an existing securities class action, keeping legal uncertainty in focus for shareholders. Lucid Group, Inc. (LCID) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
• Negative Sentiment: The class action alleges investors were harmed after Lucid concealed a 29-day delivery halt, which could add legal costs and weigh on confidence in management disclosures. Lost Money on Lucid Group, Inc. (LCID)? Join Class Action Suit Seeking Recovery – Contact SueWallSt

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Lucid Group in a research report on Monday, May 4th. Zacks Research raised Lucid Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research note on Friday, March 27th. Robert W. Baird set a $6.00 price objective on Lucid Group in a research note on Wednesday, May 6th. Finally, Bank of America initiated coverage on Lucid Group in a report on Wednesday, March 4th. They issued an “underperform” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $9.67.

Lucid Group Stock Performance

The company has a market capitalization of $2.09 billion, a P/E ratio of -0.41 and a beta of 0.89. The stock’s fifty day moving average price is $6.38 and its 200-day moving average price is $9.27. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.48 and a current ratio of 1.02.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($2.53) by ($0.29). The business had revenue of $282.46 million for the quarter, compared to the consensus estimate of $358.46 million. Lucid Group had a negative return on equity of 304.01% and a negative net margin of 248.09%.The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) EPS. As a group, research analysts anticipate that Lucid Group, Inc. will post -10.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LCID. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $28,000 after purchasing an additional 2,740 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of 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 last quarter. Jump Financial LLC bought a new position in shares of Lucid Group in the second quarter valued at about $41,000. Worldquant Millennium Advisors LLC bought a new position in shares of Lucid Group in the second quarter valued at about $59,000. Finally, Leonteq Securities AG bought a new stake in shares of Lucid Group during the 4th quarter worth about $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.