Lucid Group (NASDAQ:LCID) Shares Down 5.2% - Here's What Happened

Key Points

• Shares fell 5.2% on Friday to about $7.30 (low $7.23) on roughly 30.1 million shares traded, about 252% above the average daily volume.
• Analysts are mixed — two Buy, six Hold and three Sell — with MarketBeat showing a consensus rating of "Reduce" and a consensus price target of $12.25 after several recent target cuts (e.g., Baird to $12, TD Cowen to $10).
• The stock is trading below its 50‑day ($9.83) and 200‑day ($12.98) moving averages, with a market cap of $2.39 billion, a negative P/E, a high debt/equity ratio (3.00) and roughly 75% institutional ownership.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares were down 5.2% on Friday . The stock traded as low as $7.23 and last traded at $7.30. Approximately 30,098,712 shares changed hands during trading, an increase of 252% from the average daily volume of 8,559,242 shares. The stock had previously closed at $7.70.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LCID shares. Robert W. Baird cut their target price on shares of Lucid Group from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Wednesday. Benchmark reaffirmed a "buy" rating on shares of Lucid Group in a research note on Thursday, February 19th. TD Cowen reaffirmed a "hold" rating and set a $10.00 target price (down from $19.00) on shares of Lucid Group in a research note on Wednesday. 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 target price on the stock. Finally, Zacks Research raised shares of Lucid Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $12.25.

Lucid Group Stock Performance

The firm's 50 day moving average is $9.83 and its two-hundred day moving average is $12.98. The stock has a market capitalization of $2.39 billion, a PE ratio of -0.60 and a beta of 1.16. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.83 and a current ratio of 1.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its holdings in Lucid Group by 9.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company's stock worth $25,000 after acquiring an additional 1,055 shares in the last quarter. Brown Advisory Inc. grew its holdings in Lucid Group by 47.5% during the 2nd quarter. Brown Advisory Inc. now owns 15,530 shares of the company's stock worth $33,000 after acquiring an additional 5,000 shares in the last quarter. Jump Financial LLC acquired a new position in Lucid Group during the 2nd quarter worth approximately $41,000. Worldquant Millennium Advisors LLC acquired a new position in Lucid Group during the 2nd quarter worth approximately $59,000. Finally, Leonteq Securities AG acquired a new position in Lucid Group during the 4th quarter worth approximately $67,000. Institutional investors and hedge funds 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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