Lucid Group (NASDAQ:LCID) Trading Down 2.7% - Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares traded down 2.7% during trading on Monday . The company traded as low as $2.30 and last traded at $2.32. 24,577,987 shares were traded during trading, a decline of 74% from the average session volume of 96,211,008 shares. The stock had previously closed at $2.38.

Analyst Ratings Changes

A number of research firms have recently weighed in on LCID. TD Cowen started coverage on Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 target price on the stock. Stifel Nicolaus decreased their price objective on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a report on Thursday, April 3rd. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target for the company in a research report on Tuesday, March 18th. Finally, Robert W. Baird upped their price objective on Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $2.68.

Lucid Group Stock Performance

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 firm has a market capitalization of $7.58 billion, a PE ratio of -1.87 and a beta of 0.88. The company's fifty day simple moving average is $2.40 and its 200 day simple moving average is $2.59.

Institutional Trading of Lucid Group

Institutional investors have recently modified their holdings of the business. Public Investment Fund lifted its position in shares of Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock worth $5,348,084,000 after acquiring an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. grew its holdings in Lucid Group by 31.1% during the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock valued at $333,163,000 after buying an additional 26,172,852 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock valued at $61,214,000 after buying an additional 4,844,782 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after buying an additional 12,803,987 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Lucid Group by 4,320.7% during the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock valued at $47,873,000 after acquiring an additional 15,493,320 shares in the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

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.