Lucid Group (NASDAQ:LCID) Stock Price Down 1.8% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID) dropped 1.8% on Thursday . The company traded as low as $3.28 and last traded at $3.33. Approximately 5,794,200 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 32,515,145 shares. The stock had previously closed at $3.39.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $4.00 price objective on shares of Lucid Group in a research note on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.71.

Lucid Group Trading Up 2.1 %

The company has a 50 day simple moving average of $3.53 and a two-hundred day simple moving average of $3.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. The company has a market cap of $7.84 billion, a PE ratio of -2.68 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The company had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.40) earnings per share. Sell-side analysts forecast that Lucid Group, Inc. will post -1.28 EPS for the current year.

Insider Activity at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the firm’s 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 sale, the senior vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Large investors have recently made changes to their positions in the stock. Creative Planning lifted its stake in shares of Lucid Group by 54.3% in the third quarter. Creative Planning now owns 224,031 shares of the company’s stock valued at $791,000 after buying an additional 78,839 shares during the period. Wedmont Private Capital raised its holdings in Lucid Group by 128.2% in the 3rd quarter. Wedmont Private Capital now owns 64,013 shares of the company’s stock valued at $219,000 after acquiring an additional 35,962 shares in the last quarter. CWM LLC raised its holdings in Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after acquiring an additional 6,771 shares in the last quarter. Clean Yield Group bought a new stake in shares of Lucid Group during the third quarter valued at approximately $43,000. Finally, Diversified Trust Co acquired a new stake in Lucid Group during the third quarter worth $48,000. Institutional investors own 75.17% of the company’s stock.

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.