Lucid Group (NASDAQ:LCID) Hits New 12-Month Low – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.31 and last traded at $11.3880, with a volume of 4223899 shares trading hands. The stock had previously closed at $11.81.

Analyst Upgrades and Downgrades

Several research firms recently commented on LCID. Morgan Stanley lowered Lucid Group from a “buy” rating to an “underweight” rating and reduced their price target for the stock from $30.00 to $10.00 in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a research report on Wednesday, November 19th. Finally, Stifel Nicolaus decreased their target price on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, November 17th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $21.54.

Lucid Group Trading Up 2.9%

The firm has a market cap of $3.71 billion, a P/E ratio of -1.07 and a beta of 0.86. The business’s 50 day moving average is $15.62 and its 200-day moving average is $20.07. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 1.19.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing analysts’ consensus estimates of ($2.32) by ($0.33). The company had revenue of $336.58 million for the quarter, compared to the consensus estimate of $378.44 million. Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The company’s revenue was up 68.3% compared to the same quarter last year. During the same quarter last year, the company earned ($2.76) earnings per share. As a group, analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Institutional Trading of Lucid Group

Several institutional investors have recently added to or reduced their stakes in LCID. HITE Hedge Asset Management LLC acquired a new stake in shares of Lucid Group during the third quarter worth $212,000. Johnson & White Wealth Management LLC acquired a new position in Lucid Group in the third quarter valued at approximately $238,000. Integrity Alliance LLC. acquired a new position in Lucid Group in the first quarter valued at approximately $27,000. Sapient Capital LLC bought a new position in shares of Lucid Group during the third quarter valued at approximately $287,000. Finally, Valeo Financial Advisors LLC raised its position in shares of Lucid Group by 9.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company’s stock worth $25,000 after purchasing an additional 1,055 shares during the period. 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.