Lucid Group (NASDAQ:LCID) Stock Price Down 1.2% – What’s Next?

by · The Markets Daily

Shares of Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) dropped 1.2% during trading on Thursday . The stock traded as low as $12.66 and last traded at $12.83. Approximately 3,617,683 shares traded hands during trading, a decline of 67% from the average daily volume of 11,101,572 shares. The stock had previously closed at $12.98.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lucid Group in a research note on Wednesday, November 19th. Morgan Stanley lowered shares of Lucid Group from a “buy” rating to an “underweight” rating and cut their target price for the stock from $30.00 to $10.00 in a research report on Monday. Finally, Stifel Nicolaus decreased their price target on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a report on Monday, November 17th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Lucid Group presently has a consensus rating of “Reduce” and an average target price of $21.54.

View Our Latest Stock Analysis on LCID

Lucid Group Trading Down 1.2%

The firm has a market cap of $4.16 billion, a P/E ratio of -1.20 and a beta of 0.86. The company’s 50 day moving average is $16.98 and its two-hundred day moving average is $20.65. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34.

Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing the consensus estimate of ($2.32) by ($0.33). Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The firm had revenue of $336.58 million during the quarter, compared to analyst estimates of $378.44 million. During the same period last year, the company earned ($2.76) EPS. The company’s revenue was up 68.3% on a year-over-year basis. On average, sell-side analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On Lucid Group

Institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC raised its stake in shares of Lucid Group by 9.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company’s stock valued at $25,000 after buying an additional 1,055 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Lucid Group by 27.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,993 shares of the company’s stock valued at $44,000 after acquiring an additional 3,882 shares in the last quarter. Amalgamated Bank increased its stake in Lucid Group by 9.3% in the second quarter. Amalgamated Bank now owns 55,350 shares of the company’s stock valued at $117,000 after acquiring an additional 4,720 shares during the period. Heritage Wealth Advisors raised its position in Lucid Group by 43.5% in the second quarter. Heritage Wealth Advisors now owns 16,500 shares of the company’s stock worth $35,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in Lucid Group by 47.5% during the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock worth $33,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds 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.

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