Lucid Group (NASDAQ:LCID) Shares Down 1.1% - Time to Sell?

Key Points

• Lucid Group shares declined by 1.1% to $2.17, with a significant drop in trading volume down by 77% compared to the average.
• Analysts maintain a neutral outlook for Lucid Group, with a consensus target price of $2.68 and various ratings including two sells, eight holds, and two buys.
• The company reported a negative EPS of ($0.28) for its last quarter, missing estimates, despite a year-over-year revenue increase of 29.3% to $259.43 million.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares dropped 1.1% on Thursday . The stock traded as low as $2.15 and last traded at $2.17. Approximately 27,760,146 shares traded hands during trading, a decline of 77% from the average daily volume of 118,779,547 shares. The stock had previously closed at $2.19.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LCID shares. Robert W. Baird upped their target price on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2.68.

Lucid Group Trading Down 0.9%

The company has a 50 day moving average of $2.35 and a 200 day moving average of $2.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.97 and a current ratio of 3.32. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of -1.89 and a beta of 0.79.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Lucid Group had a negative net margin of 259.57% and a negative return on equity of 74.27%. The company had revenue of $259.43 million during the quarter, compared to analysts' expectations of $288.10 million. During the same quarter in the previous year, the company earned ($0.29) earnings per share. The firm's quarterly revenue was up 29.3% compared to the same quarter last year. On average, research analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of Lucid Group by 12.8% during the fourth quarter. American Century Companies Inc. now owns 83,632 shares of the company's stock valued at $253,000 after acquiring an additional 9,475 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Lucid Group by 14.0% in the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company's stock valued at $109,000 after acquiring an additional 4,431 shares during the period. LPL Financial LLC raised its stake in shares of Lucid Group by 15.8% during the fourth quarter. LPL Financial LLC now owns 293,090 shares of the company's stock worth $885,000 after purchasing an additional 39,945 shares during the last quarter. Norges Bank purchased a new stake in Lucid Group in the 4th quarter valued at approximately $9,446,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Lucid Group by 38.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 152,761 shares of the company's stock worth $461,000 after purchasing an additional 42,295 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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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