Lucid Group (NASDAQ:LCID) Trading Up 3% - Time to Buy?

Key Points

• Lucid Group stock rose 3% on Tuesday, trading as high as $7.44 before closing near $7.32, with volume below its recent average.
• The article highlights a mixed outlook: some investors see potential upside in Lucid’s long-term EV story, but recent weaker quarterly results and execution concerns have kept the stock under pressure.
• Legal and analyst sentiment remain cautionary, with a new class-action lawsuit and multiple law-firm deadline alerts adding pressure, while Wall Street’s overall rating on LCID is still Reduce with a consensus price target of $9.56.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s stock price was up 3% on Tuesday . The stock traded as high as $7.44 and last traded at $7.32. Approximately 12,267,729 shares changed hands during trading, a decline of 14% from the average session volume of 14,188,376 shares. The stock had previously closed at $7.11.

Key Lucid Group News

Here are the key news stories impacting Lucid Group this week:

• Positive Sentiment: Lucid shares have attracted renewed attention from investors and traders after recent volatility, with some commentary arguing the stock could be undervalued relative to its long-term EV potential. 3 Reasons to Avoid LCID and 1 Stock to Buy Instead
• Neutral Sentiment: Several articles discuss Lucid’s business prospects, including whether the company can scale production and compete more effectively in the EV market, but these pieces are mostly opinion-based and do not report new operating data. Can Lucid Group NASDAQ: LCID Turn Ambition Into Scale?
• Negative Sentiment: Pomerantz LLP announced a class action against Lucid Group, Inc. and certain officers, adding to the legal pressure around alleged securities-law violations for investors who bought shares during the specified class period. Pomerantz Law Firm Announces the Filing of a Class Action Against Lucid Group, Inc. and Certain Officers – LCID
• Negative Sentiment: Multiple law firms issued deadline alerts and lead-plaintiff reminders for Lucid investors, which reinforces concerns that the company is dealing with a broad securities lawsuit and could face ongoing distraction and potential costs. LUCID DEADLINE: ROSEN, SKILLED INVESTOR COUNSEL, Encourages Lucid Group, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important July 28 Deadline in Securities Class Action - LCID
• Negative Sentiment: Coverage also notes that Lucid’s stock has been under pressure over the past several months amid softer quarterly results, suggesting investors remain cautious about the company’s execution and near-term fundamentals. Why Lucid Group (LCID) Dipped More Than Broader Market Today

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LCID. Weiss Ratings restated a "sell (e+)" rating on shares of Lucid Group in a report on Wednesday, June 24th. Morgan Stanley set a $5.00 price objective on shares of Lucid Group in a research report on Wednesday, May 6th. Benchmark downgraded shares of Lucid Group from a "buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Citigroup reissued a "buy" rating and issued a $14.00 price objective (down from $17.00) on shares of Lucid Group in a research note on Friday, May 15th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $7.00 price objective (down from $8.00) on shares of Lucid Group in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $9.56.

Lucid Group Trading Up 3.0%

The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.48 and a current ratio of 1.02. The company has a market capitalization of $2.86 billion, a P/E ratio of -0.55 and a beta of 0.83. The company's fifty day simple moving average is $5.81 and its 200-day simple moving average is $8.23.

Hedge Funds Weigh In On Lucid Group

Several institutional investors have recently bought and sold shares of LCID. Uber Technologies Inc purchased a new stake in shares of Lucid Group in the third quarter worth about $326,283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Lucid Group by 39.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company's stock worth $25,973,000 after purchasing an additional 3,465,542 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Lucid Group by 112.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company's stock worth $13,166,000 after purchasing an additional 2,874,603 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Lucid Group by 93.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,485,715 shares of the company's stock valued at $9,465,000 after purchasing an additional 2,167,882 shares in the last quarter. Finally, HRT Financial LP increased its holdings in shares of Lucid Group by 148.1% during the 2nd quarter. HRT Financial LP now owns 3,465,146 shares of the company's stock valued at $7,311,000 after purchasing an additional 2,068,440 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other 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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