Lucid Group (NASDAQ:LCID) Shares Down 0.6% – Should You Sell?

Shares of Lucid Group, Inc. (NASDAQ:LCID) traded down 0.6% on Monday . The company traded as low as $3.33 and last traded at $3.38. 4,372,183 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 32,374,012 shares. The stock had previously closed at $3.40.

Wall Street Analyst Weigh In

LCID has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.71.

Lucid Group Trading Down 1.8 %

The company’s 50 day simple moving average is $3.53 and its two-hundred day simple moving average is $3.10. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of -2.62 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. During the same quarter last year, the firm earned ($0.40) earnings per share. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. As a group, research analysts anticipate that Lucid Group, Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the transaction, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 61.26% of the stock is owned by insiders.

Institutional Trading of Lucid Group

Hedge funds have recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. raised its position in shares of Lucid Group by 2.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 290,103 shares of the company’s stock worth $1,221,000 after purchasing an additional 5,627 shares during the last quarter. Vanguard Group Inc. raised its stake in Lucid Group by 12.4% in the 4th quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after purchasing an additional 9,175,312 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Lucid Group by 24.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,706,434 shares of the company’s stock valued at $7,184,000 after purchasing an additional 334,923 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in Lucid Group during the 4th quarter worth $46,000. Finally, Wedmont Private Capital acquired a new stake in shares of Lucid Group in the first quarter valued at about $136,000. 75.17% of the stock is 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.