Lucid Group (NASDAQ:LCID) Sets New 52-Week Low - Time to Sell?

Key Points

• Lucid fell to a new 52-week low of $5.96, last trading around $6.04 on heavy volume (~6.48M shares).
• Analysts are mixed — consensus rating is "Reduce" with an average price target of $12.25, based on 2 Buys, 6 Holds and 3 Sells (notable targets: Citi $17 Buy; BofA $10 Underperform).
• The company shows financial strain: market cap ~ $1.96B, negative P/E, high leverage (debt/equity 3.0), below-par liquidity (current ratio 1.25, quick ratio 0.83), and ~75% institutional ownership.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $5.96 and last traded at $6.0350, with a volume of 6481409 shares changing hands. The stock had previously closed at $6.25.

Analysts Set New Price Targets

LCID has been the topic of several recent research reports. Zacks Research upgraded Lucid Group from a "strong sell" rating to a "hold" rating in a report on Thursday, March 5th. Benchmark reissued a "buy" rating on shares of Lucid Group in a research note on Thursday, February 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Lucid Group in a report on Friday, March 27th. Citigroup started coverage on shares of Lucid Group in a research note on Wednesday, March 18th. They set a "buy" rating and a $17.00 price target for the company. Finally, Bank of America began coverage on shares of Lucid Group in a report on Wednesday, March 4th. They set an "underperform" rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $12.25.

Lucid Group Price Performance

The stock has a 50 day moving average of $9.38 and a 200-day moving average of $12.11. The company has a current ratio of 1.25, a quick ratio of 0.83 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $1.96 billion, a P/E ratio of -0.49 and a beta of 1.16.

Institutional Trading of Lucid Group

A number of large investors have recently made changes to their positions in LCID. Jain Global LLC grew its stake in Lucid Group by 13.3% in the fourth quarter. Jain Global LLC now owns 10,220 shares of the company's stock valued at $108,000 after purchasing an additional 1,200 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Lucid Group by 3.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 37,146 shares of the company's stock worth $393,000 after purchasing an additional 1,336 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Lucid Group by 11.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,590 shares of the company's stock worth $144,000 after purchasing an additional 1,430 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Lucid Group by 9.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 17,970 shares of the company's stock valued at $190,000 after buying an additional 1,569 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Lucid Group by 16.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,645 shares of the company's stock valued at $123,000 after buying an additional 1,604 shares during the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Company Profile

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.

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