Lucid Group (NASDAQ:LCID) Trading Down 1.5% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID)’s share price was down 1.5% during trading on Tuesday . The company traded as low as $10.88 and last traded at $10.92. Approximately 4,719,776 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 8,100,523 shares. The stock had previously closed at $11.09.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LCID shares. Robert W. Baird set a $14.00 price target on Lucid Group in a report on Tuesday, January 6th. Zacks Research downgraded shares of Lucid Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Morgan Stanley cut shares of Lucid Group from a “buy” rating to an “underweight” rating and decreased their price target for the company from $30.00 to $10.00 in a research note on Monday, December 8th. Stifel Nicolaus reduced their price objective on Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Lucid Group currently has a consensus rating of “Reduce” and a consensus target price of $18.92.

Lucid Group Stock Down 1.4%

The business has a fifty day moving average of $11.40 and a 200 day moving average of $17.10. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3.55 billion, a P/E ratio of -1.02 and a beta of 1.16.

Institutional Investors Weigh In On Lucid Group

Several large investors have recently bought and sold shares of LCID. Leonteq Securities AG bought a new position in shares of Lucid Group during the fourth quarter worth $67,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Lucid Group in the fourth quarter worth about $86,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Lucid Group during the third quarter worth about $212,000. Johnson & White Wealth Management LLC bought a new position in shares of Lucid Group during the 3rd quarter valued at about $238,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Lucid Group by 16.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,645 shares of the company’s stock valued at $123,000 after buying an additional 1,604 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

About Lucid Group

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.