Lucid Group (NASDAQ:LCID) Shares Down 6.4% - What's Next?

Key Points

• Shares dropped 6.4% on Friday to $14.20 with about 11.3 million shares traded, leaving Lucid with a market cap near $4.36 billion and the stock trading below its 50‑ and 200‑day averages.
• Lucid’s latest quarter missed expectations—EPS of ($2.65) vs. consensus ($2.32) and revenue of $336.6M vs. $378.4M—while revenue rose 68% year‑over‑year but the company posted a severely negative net margin (‑224.99%) and negative ROE.
• Analysts are cautious: the consensus rating is “Reduce” with a $21.93 target, composed of 1 Buy, 8 Hold and 3 Sell ratings, and price targets ranging widely (about $2.10 to $30), while institutional ownership stands at roughly 75%.

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) traded down 6.4% on Friday . The company traded as low as $14.19 and last traded at $14.20. 11,306,857 shares changed hands during trading, a decline of 0% from the average session volume of 11,346,514 shares. The stock had previously closed at $15.17.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LCID shares. Cantor Fitzgerald cut their price objective on Lucid Group from $26.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, November 6th. Morgan Stanley increased their price objective on shares of Lucid Group to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Stifel Nicolaus set a $2.10 price objective on shares of Lucid Group in a research report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Lucid Group in a report on Thursday. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $21.93.

Lucid Group Price Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.34 and a current ratio of 1.81. The firm has a fifty day simple moving average of $20.09 and a two-hundred day simple moving average of $22.33. The firm has a market cap of $4.36 billion, a PE ratio of -1.33 and a beta of 0.80.

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 analysts' consensus estimates of ($2.32) by ($0.33). Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The firm had revenue of $336.58 million for the quarter, compared to the consensus estimate of $378.44 million. During the same quarter in the prior year, the company posted ($2.76) earnings per share. The firm's revenue was up 68.3% compared to the same quarter last year. Equities analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

Hedge funds and other institutional investors have recently modified their holdings of the business. HITE Hedge Asset Management LLC bought a new stake in shares of Lucid Group during the third quarter worth $212,000. Magnetar Financial LLC bought a new stake in Lucid Group during the third quarter valued at about $969,000. Counterpoint Mutual Funds LLC purchased a new position in Lucid Group in the third quarter valued at about $496,000. PNC Financial Services Group Inc. lifted its position in Lucid Group by 112.6% during the third quarter. PNC Financial Services Group Inc. now owns 36,923 shares of the company's stock valued at $878,000 after acquiring an additional 19,557 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in Lucid Group during the 3rd quarter valued at approximately $705,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

About Lucid Group

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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