Lucid Group (NASDAQ:LCID) Stock Price Down 0.2% – Time to Sell?

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. 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 note on Monday, November 11th. Royal Bank of Canada lowered their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. Cfra set a $2.00 target price on Lucid Group in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.04.

Lucid Group Stock Up 1.4 %

The stock’s fifty day simple moving average is $2.75 and its 200-day simple moving average is $3.01. The stock has a market cap of $8.43 billion, a P/E ratio of -2.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co grew its position in Lucid Group by 27.8% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock worth $62,000 after buying an additional 3,816 shares during the last quarter. Greenleaf Trust grew its position in Lucid Group by 22.0% in the third quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after buying an additional 4,604 shares during the last quarter. GAMMA Investing LLC grew its position in Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after buying an additional 5,031 shares during the last quarter. SG Americas Securities LLC grew its position in Lucid Group by 3.4% during the 4th quarter. SG Americas Securities LLC now owns 157,160 shares of the company’s stock worth $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% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock worth $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.