Lucid Group (NASDAQ:LCID) Stock Price Up 3% - What's Next?

Key Points

• Shares rose about 3% to $12.67 intraday (high $12.70) on roughly 6.83 million shares, ~40% below average daily volume, and remain well below the 50- and 200-day moving averages ($19.18 and $21.73).
• Wall Street sentiment is mixed: MarketBeat shows an average rating of Reduce with an average price target of $24.04, while analysts’ views range from buys to sells (e.g., Morgan Stanley $30 target; Weiss Ratings a sell).
• Lucid missed on the quarter with EPS of -$2.65 and revenue of $336.6M (up 68% YoY) but still faces deep losses (net margin -224.99%, negative ROE), highlighting ongoing profitability and balance-sheet risks.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares were up 3% during mid-day trading on Monday . The company traded as high as $12.70 and last traded at $12.67. Approximately 6,828,608 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 11,304,254 shares. The stock had previously closed at $12.30.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Lucid Group in a research report on Wednesday, November 19th. Morgan Stanley upped their target price on Lucid Group to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Lucid Group in a research note on Wednesday, November 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Lucid Group from $21.00 to $17.00 and set a "hold" rating for the company in a report on Monday, November 17th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $24.04.

Lucid Group Trading Up 3.0%

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 50-day moving average of $19.18 and a 200-day moving average of $21.73. The firm has a market capitalization of $4.11 billion, a P/E ratio of -1.18 and a beta of 0.80.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($2.65) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $336.58 million during the quarter, compared to the consensus estimate of $378.44 million. During the same quarter in the previous year, the firm posted ($2.76) EPS. The business's revenue for the quarter was up 68.3% compared to the same quarter last year. On average, equities research analysts anticipate that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently added to or reduced their stakes in LCID. HB Wealth Management LLC bought a new position in shares of Lucid Group during the first quarter valued at about $25,000. Cigna Investments Inc. New bought a new position in Lucid Group during the 2nd quarter valued at approximately $25,000. Valeo Financial Advisors LLC lifted its holdings in 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 buying an additional 1,055 shares during the period. Tyche Wealth Partners LLC purchased a new stake in Lucid Group in the 2nd quarter worth approximately $26,000. Finally, Integrity Alliance LLC. bought a new stake in shares of Lucid Group in the 1st quarter worth approximately $27,000. Institutional investors own 75.17% of the company's stock.

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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