Lucid Group (NASDAQ:LCID) Stock Falls 1.8% – Here’s Why

Lucid Group, Inc. (NASDAQ:LCID)’s stock price was down 1.8% during mid-day trading on Thursday. The company traded as low as $3.72 and last traded at $3.82. 12,163,010 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 13,388,135 shares. The stock had previously closed at $3.89.

Trending Headlines about Lucid Group

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

• Positive Sentiment: Lucid produced 2,954 vehicles and delivered 3,806 in the third quarter, reducing finished-vehicle inventory by 852 units. Aligning production with orders could improve cash efficiency and reduce the cost of holding excess inventory. Lucid Builds Fewer EVs Than It Sells As CEO’s Cash-Preservation Reset Takes Hold
• Neutral Sentiment: Management has begun restructuring teams and leadership roles as part of a broader operational reset. The changes may support longer-term efficiency, but investors will want evidence that they can improve demand, production execution and liquidity. What Does Lucid Group Production Cut Under Its New CEO Mean?
• Neutral Sentiment: Cantor Fitzgerald maintained its Hold rating, signaling limited conviction that the operational changes currently justify a more bullish view. Cantor Fitzgerald Sticks to Its Hold Rating for Lucid Group
• Negative Sentiment: Third-quarter production and deliveries declined from a year earlier, while Lucid’s decision to cut output to match current orders suggests demand remains weak. Investors may view the production reduction as a sign of limited near-term growth. Lucid Builds Fewer EVs Than It Sells As CEO’s Cash-Preservation Reset Takes Hold
• Negative Sentiment: BNP Paribas described Lucid’s delivery performance as lackluster and said the company faces a “long and difficult journey” toward stronger operations and sustainable customer demand. The commentary adds to concerns about cash burn, profitability and the viability of the turnaround. Lucid Faces a Long and Difficult Journey, BNP Says After Q3 Delivery Miss

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LCID shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Lucid Group in a research note on Monday, September 21st. Citigroup dropped their price target on Lucid Group from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. UBS Group restated a “hold” rating on shares of Lucid Group in a report on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $7.00 price objective (down from $8.00) on shares of Lucid Group in a research report on Monday, July 13th. Finally, Zacks Research upgraded shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $9.22.

Lucid Group Stock Down 1.8%

The stock has a 50 day simple moving average of $5.17 and a 200 day simple moving average of $6.20. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -0.28 and a beta of 1.00.

Lucid Group (NASDAQ:LCID) last issued its earnings results on Tuesday, August 4th. The company reported ($2.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). Lucid Group had a negative return on equity of 1,391.51% and a negative net margin of 249.21%.The firm had revenue of $405.35 million for the quarter, compared to analyst estimates of $381.59 million. During the same period in the previous year, the company earned ($0.24) earnings per share. Lucid Group’s revenue for the quarter was up 56.2% compared to the same quarter last year. Equities analysts expect that Lucid Group, Inc. will post -12.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LCID. IFP Advisors Inc lifted its stake in shares of Lucid Group by 1,231.3% in the second quarter. IFP Advisors Inc now owns 3,781 shares of the company’s stock valued at $25,000 after buying an additional 3,497 shares in the last quarter. Allworth Financial LP increased its position in shares of Lucid Group by 249.9% during the second quarter. Allworth Financial LP now owns 4,010 shares of the company’s stock worth $27,000 after acquiring an additional 2,864 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Lucid Group by 1,574.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company’s stock worth $28,000 after acquiring an additional 2,740 shares during the last quarter. Nykredit A S acquired a new stake in shares of Lucid Group in the 2nd quarter worth about $47,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Lucid Group in the 4th quarter valued at about $77,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

About Lucid Group

Lucid Group, Inc is an electric vehicle company headquartered in Newark, California. Through its Lucid Motors subsidiary, the company designs, engineers and manufactures luxury electric vehicles, with a focus on long range, performance, efficiency and advanced in-vehicle technology.

Lucid’s product lineup includes the Lucid Air, a premium electric sedan, and the Lucid Gravity, an electric SUV. The company also develops electric powertrain systems, battery technology and related vehicle software.