Lucid Group (NASDAQ:LCID) Sets New 52-Week Low – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID) reached a new 52-week low on Wednesday . The company traded as low as $2.15 and last traded at $2.17, with a volume of 7604818 shares traded. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Cfra set a $2.00 price objective on Lucid Group in a research report on Thursday, October 17th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Thursday, September 12th. Robert W. Baird restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Friday. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.54.

Lucid Group Price Performance

The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.17 billion, a P/E ratio of -1.87 and a beta of 1.11. The firm has a 50-day simple moving average of $3.20 and a 200-day simple moving average of $3.08.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The business had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. During the same quarter in the prior year, the company posted ($0.40) EPS. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, analysts forecast that Lucid Group, Inc. will post -1.22 EPS for the current year.

Insider Buying and Selling

In other news, Director Public Investment Fund bought 374,717,927 shares of Lucid Group stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the purchase, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. The trade was a -100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Lucid Group news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction dated Friday, August 16th. The stock was 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 in the company, valued at approximately $6,368,761.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the purchase, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. The trade was a -100.00 % increase in their position. The disclosure for this purchase can be found here. 61.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lucid Group

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Lucid Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after acquiring an additional 489,187 shares during the period. Bank of New York Mellon Corp boosted its holdings in Lucid Group by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after buying an additional 581,082 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Lucid Group by 42.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock worth $6,951,000 after buying an additional 732,463 shares during the last quarter. Rhumbline Advisers boosted its holdings in Lucid Group by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 741,822 shares of the company’s stock worth $1,936,000 after buying an additional 46,997 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Lucid Group by 946.6% in the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock worth $1,493,000 after buying an additional 474,534 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.