Lucid Group (NASDAQ:LCID) Trading Down 4.9% – Time to Sell?

Lucid Group, Inc. (NASDAQ:LCID)’s share price was down 4.9% during trading on Thursday . The company traded as low as $3.11 and last traded at $3.21. Approximately 49,221,752 shares traded hands during trading, a decline of 38% from the average daily volume of 79,467,477 shares. The stock had previously closed at $3.37.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LCID shares. Benchmark started coverage on shares of Lucid Group in a report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Royal Bank of Canada decreased their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. Finally, R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.24.

Lucid Group Price Performance

The company has a market cap of $9.86 billion, a PE ratio of -2.45 and a beta of 0.93. The stock has a fifty day simple moving average of $2.96 and a two-hundred day simple moving average of $2.97. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of Lucid Group in the 4th quarter valued at about $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group in the 4th quarter valued at about $30,000. Proficio Capital Partners LLC purchased a new stake in Lucid Group in the 4th quarter worth approximately $31,000. DRW Securities LLC purchased a new position in Lucid Group in the fourth quarter valued at approximately $31,000. Finally, First National Corp MA ADV acquired a new position in Lucid Group during the 4th quarter worth approximately $32,000. Hedge funds and other 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.