Lucid Group (NASDAQ:LCID) Shares Down 2.1% - Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) traded down 2.1% during mid-day trading on Friday . The stock traded as low as $2.87 and last traded at $3.06. 132,540,286 shares traded hands during trading, an increase of 48% from the average session volume of 89,382,603 shares. The stock had previously closed at $3.12.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Robert W. Baird upped their price objective on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $2.68.

Lucid Group Stock Performance

The firm has a 50-day simple moving average of $2.35 and a two-hundred day simple moving average of $2.52. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of -2.53 and a beta of 0.78. The company has a current ratio of 3.32, a quick ratio of 2.97 and a debt-to-equity ratio of 0.65.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative return on equity of 68.64% and a negative net margin of 275.73%. The business had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. During the same quarter last year, the company earned ($0.27) earnings per share. The firm's revenue was up 36.1% on a year-over-year basis. As a group, sell-side analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Accredited Investors Inc. acquired a new position in shares of Lucid Group in the 4th quarter valued at about $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group in the 4th quarter worth approximately $31,000. DRW Securities LLC bought a new position in Lucid Group in the 4th quarter worth approximately $31,000. HB Wealth Management LLC purchased a new stake in Lucid Group in the 1st quarter worth approximately $25,000. Finally, Sterling Investment Counsel LLC purchased a new stake in shares of Lucid Group during the 1st quarter valued at $25,000. 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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