Lucid Group (NASDAQ:LCID) Shares Down 2.5% - Time to Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares traded down 2.5% during trading on Thursday . The company traded as low as $2.54 and last traded at $2.57. 58,734,332 shares were traded during trading, a decline of 17% from the average session volume of 70,663,365 shares. The stock had previously closed at $2.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Benchmark reiterated a "buy" rating and issued a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Redburn Atlantic cut Lucid Group from a "neutral" rating to a "sell" rating and lowered their price target for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Finally, Stifel Nicolaus reduced their target price on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $2.68.

Lucid Group Stock Performance

The stock has a 50 day moving average price of $2.49 and a two-hundred day moving average price of $2.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of -1.66 and a beta of 0.88.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The company had revenue of $235.05 million during the quarter, compared to analyst estimates of $250.50 million. During the same quarter in the previous year, the business posted ($0.27) EPS. The company's revenue was up 36.1% compared to the same quarter last year. On average, analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group during the fourth quarter worth $28,000. Accredited Investors Inc. bought a new position in Lucid Group in the fourth quarter valued at about $30,000. Proficio Capital Partners LLC acquired a new stake in Lucid Group in the fourth quarter worth about $31,000. DRW Securities LLC bought a new stake in Lucid Group during the 4th quarter worth about $31,000. Finally, HB Wealth Management LLC acquired a new position in Lucid Group during the 1st quarter valued at about $25,000. Institutional investors own 75.17% of the company's stock.

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.