Lucid Group (NASDAQ:LCID) Stock Price Down 0.3% - Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares fell 0.3% during trading on Monday . The stock traded as low as $3.06 and last traded at $3.07. 66,742,073 shares were traded during trading, a decline of 26% from the average session volume of 90,676,616 shares. The stock had previously closed at $3.08.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LCID. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a report on Monday, November 11th. Robert W. Baird reissued a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $3.04.

Lucid Group Stock Performance

The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock's 50 day moving average price is $2.65 and its two-hundred day moving average price is $3.05. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of -2.03 and a beta of 0.94.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The firm had revenue of $200.04 million for the quarter, compared to analysts' expectations of $199.50 million. During the same period last year, the firm earned ($0.28) EPS. On average, analysts forecast that Lucid Group, Inc. will post -1.25 EPS for the current year.

Insider Activity

In related news, Director Public Investment Fund bought 374,717,927 shares of Lucid Group stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the purchase, the director now owns 8,041,393 shares in the company, valued at $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 61.26% of the company's stock.

Hedge Funds Weigh In On Lucid Group

A number of institutional investors have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC boosted its stake in shares of Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock worth $27,000 after purchasing an additional 9,250 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Lucid Group in the 2nd quarter worth approximately $26,000. Crumly & Associates Inc. acquired a new position in Lucid Group in the 3rd quarter valued at $38,000. Wedge Capital Management L L P NC purchased a new position in shares of Lucid Group during the 4th quarter worth $33,000. Finally, Latko Wealth Management Ltd. acquired a new stake in shares of Lucid Group during the third quarter worth $39,000. 75.17% of the stock is owned by institutional investors and hedge funds.

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.