Lucid Group (NASDAQ:LCID) Shares Down 2.3% - What's Next?

Key Points

• Lucid shares fell 2.3% on Friday to $11.07 on ~6.7M shares (about 19% below average); the stock trades with a market cap of ~$3.59B and 50/200‑day SMAs of $11.75 and $17.85 respectively.
• Analyst sentiment has turned negative — Morgan Stanley downgraded Lucid to "underweight" and cut its target to $10, and the stock's consensus rating is Reduce with an average target of $18.92 (2 Buys, 5 Holds, 5 Sells).
• Fundamentals remain weak: in its last reported quarter Lucid missed EPS and revenue (EPS -$2.65 vs -$2.32 estimate; revenue $336.6M vs $378.4M), shows large losses (negative ROE ~85%, net margin -224.99%), and analysts expect about -$1.25 EPS for the fiscal year.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price traded down 2.3% during trading on Friday . The company traded as low as $10.94 and last traded at $11.07. 6,717,437 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 8,300,678 shares. The stock had previously closed at $11.33.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lowered shares of Lucid Group from a "buy" rating to an "underweight" rating and lowered their price target for the stock from $30.00 to $10.00 in a report on Monday, December 8th. Robert W. Baird set a $14.00 price objective on shares of Lucid Group in a research report on Tuesday, January 6th. Royal Bank Of Canada lowered their target price on shares of Lucid Group from $20.00 to $14.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 14th. Stifel Nicolaus cut their price target on shares of Lucid Group from $21.00 to $17.00 and set a "hold" rating on the stock in a research report on Monday, November 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Lucid Group in a report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $18.92.

Lucid Group Stock Down 2.3%

The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -1.03 and a beta of 0.89. The stock has a 50 day simple moving average of $11.75 and a 200 day simple moving average of $17.85. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 1.19.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its 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). The business had revenue of $336.58 million for the quarter, compared to the consensus estimate of $378.44 million. Lucid Group had a negative return on equity of 85.13% and a negative net margin of 224.99%.The company's revenue was up 68.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.76) earnings per share. As a group, analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

Several institutional investors have recently bought and sold shares of LCID. Royal Bank of Canada lifted its stake in Lucid Group by 9.5% during the 1st quarter. Royal Bank of Canada now owns 110,716 shares of the company's stock valued at $267,000 after acquiring an additional 9,578 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Lucid Group by 89.9% in the first quarter. AQR Capital Management LLC now owns 537,801 shares of the company's stock valued at $1,226,000 after purchasing an additional 254,551 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Lucid Group by 103.2% during the first quarter. NewEdge Advisors LLC now owns 37,987 shares of the company's stock valued at $92,000 after purchasing an additional 19,294 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Lucid Group by 112.0% during the first quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company's stock valued at $13,166,000 after purchasing an additional 2,874,603 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Lucid Group by 11.3% during the first quarter. Empowered Funds LLC now owns 110,844 shares of the company's stock worth $268,000 after purchasing an additional 11,252 shares during the last quarter. Institutional investors own 75.17% of the company's stock.

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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