Lucid Group (NASDAQ:LCID) Reaches New 1-Year Low - Time to Sell?

Key Points

• Lucid Group's stock has reached a new 52-week low of $17.50 and last traded at $19.07, with an average rating of "Hold" from analysts and a consensus price target of $26.75.
• The company reported a larger-than-expected earnings miss, with a loss of ($2.80) per share compared to the consensus estimate of ($2.20), alongside a year-over-year revenue increase of 29.3%.
• Institutional investors hold a significant portion of the company, owning 75.17% of the stock as several hedge funds have recently acquired new stakes.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $17.50 and last traded at $19.07, with a volume of 615856 shares traded. The stock had previously closed at $19.80.

Analysts Set New Price Targets

Several analysts have issued reports on LCID shares. Morgan Stanley raised their price objective on shares of Lucid Group to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Cantor Fitzgerald reissued a "neutral" rating and issued a $30.00 price objective on shares of Lucid Group in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lucid Group currently has an average rating of "Hold" and a consensus price target of $26.75.

Lucid Group Price Performance

The company has a market capitalization of $54.46 billion, a PE ratio of -15.25 and a beta of 0.78. The company's 50-day simple moving average is $22.95 and its 200-day simple moving average is $23.79. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.11 and a current ratio of 2.58.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($2.80) earnings per share for the quarter, missing the consensus estimate of ($2.20) by ($0.60). The firm had revenue of $259.43 million during the quarter, compared to analysts' expectations of $288.10 million. Lucid Group had a negative net margin of 259.57% and a negative return on equity of 79.40%. The firm's revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.90) EPS. As a group, sell-side analysts anticipate that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Institutional Trading of Lucid Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC acquired a new stake in shares of Lucid Group in the first quarter valued at about $25,000. Sterling Investment Counsel LLC acquired a new stake in shares of Lucid Group in the first quarter valued at about $25,000. Grimes & Company Inc. acquired a new stake in shares of Lucid Group in the first quarter valued at about $27,000. Ground Swell Capital LLC acquired a new stake in shares of Lucid Group in the fourth quarter valued at about $34,000. Finally, Integrity Alliance LLC. acquired a new stake in shares of Lucid Group in the first quarter valued at about $27,000. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Company Profile

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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