Lucid Group (NASDAQ:LCID) Reaches New 12-Month Low – Time to Sell?

by · The Cerbat Gem

Shares of Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.29 and last traded at $2.31, with a volume of 3711077 shares traded. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

LCID has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Robert W. Baird reissued a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday, October 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Thursday, September 12th. Cfra set a $2.00 target price on shares of Lucid Group in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, Lucid Group currently has an average rating of “Hold” and an average price target of $3.54.

Check Out Our Latest Analysis on Lucid Group

Lucid Group Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. The company has a market cap of $5.08 billion, a PE ratio of -1.82 and a beta of 1.04. The business’s 50-day moving average is $3.34 and its 200 day moving average is $3.09.

Lucid Group (NASDAQ:LCID – Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The firm had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. Lucid Group’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) EPS. On average, equities research analysts predict that Lucid Group, Inc. will post -1.22 EPS for the current fiscal year.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 61.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co lifted its holdings in Lucid Group by 34.9% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after buying an additional 3,549 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock valued at $172,000 after purchasing an additional 3,715 shares during the period. Heritage Wealth Advisors boosted its position in shares of Lucid Group by 53.3% during the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after purchasing an additional 4,000 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Lucid Group by 5.5% in the first quarter. First Trust Direct Indexing L.P. now owns 82,922 shares of the company’s stock worth $236,000 after purchasing an additional 4,350 shares during the period. Finally, Greenleaf Trust raised its holdings 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 purchasing an additional 4,604 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

Lucid Group Company Profile

(Get Free Report)

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.

Read More