Lucid Group (NASDAQ:LCID) Stock Price Down 1.5% - What's Next?

Key Points

• Stock down ~1.5%: Lucid shares fell to $10.92 on Tuesday (low $10.88) with ~4.72M shares traded, about 42% below the average daily volume.
• Analyst sentiment weak: MarketBeat shows a consensus rating of "Reduce" with a $18.92 price target, as recent downgrades and target cuts (including Zacks' move to "strong sell") leave the stock with 2 Buys, 5 Holds and 5 Sells.
• Mixed fundamentals and bearish technicals: liquidity ratios are modest (current 1.81, quick 1.34) and debt/equity is 1.19 while the company has a negative P/E (−1.02); the 50-day MA ($11.40) sits well below the 200-day MA ($17.10), and market cap is about $3.55B.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price dropped 1.5% during trading on Tuesday . The stock traded as low as $10.88 and last traded at $10.92. Approximately 4,719,776 shares were traded during trading, a decline of 42% from the average daily volume of 8,100,523 shares. The stock had previously closed at $11.09.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Zacks Research cut Lucid Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, January 22nd. Robert W. Baird set a $14.00 price objective on Lucid Group in a research note on Tuesday, January 6th. Stifel Nicolaus decreased their target price on Lucid Group from $21.00 to $17.00 and set a "hold" rating for the company in a research report on Monday, November 17th. Royal Bank Of Canada dropped their target price on shares of Lucid Group from $20.00 to $14.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Lucid Group in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lucid Group has a consensus rating of "Reduce" and a consensus price target of $18.92.

Lucid Group Stock Down 1.4%

The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 1.19. The business's fifty day moving average price is $11.40 and its 200 day moving average price is $17.10. The company has a market capitalization of $3.55 billion, a P/E ratio of -1.02 and a beta of 1.16.

Institutional Trading of Lucid Group

A number of large investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC grew its holdings in shares of Lucid Group by 9.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company's stock worth $25,000 after purchasing an additional 1,055 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Lucid Group by 9.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 17,970 shares of the company's stock worth $190,000 after buying an additional 1,569 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Lucid Group by 16.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,645 shares of the company's stock valued at $123,000 after acquiring an additional 1,604 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Lucid Group by 6.2% in the 4th quarter. Arizona State Retirement System now owns 38,236 shares of the company's stock worth $404,000 after acquiring an additional 2,217 shares in the last quarter. Finally, Amalgamated Bank grew its position in Lucid Group by 9.3% during the 2nd quarter. Amalgamated Bank now owns 55,350 shares of the company's stock worth $117,000 after acquiring an additional 4,720 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors.

About Lucid Group

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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