Lucid Group (NASDAQ:LCID) Trading Down 9.1% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID) fell 9.1% during mid-day trading on Friday . The company traded as low as $7.29 and last traded at $7.38. 9,187,708 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 14,258,029 shares. The stock had previously closed at $8.12.

Trending Headlines about Lucid Group

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

• Positive Sentiment: Lucid is scheduled to report results on Aug. 4. Investors will focus on deliveries, cash usage and production guidance; a credible execution update could provide a catalyst. The company is described as having substantial cash, which may reduce near-term financing concerns. Should You Buy Lucid Stock Before Aug. 4?
• Positive Sentiment: Saudi billionaire Prince Alwaleed’s reported $129.5 million investment and 5% stake disclosure previously raised hopes of stronger financial backing and strategic support for Lucid. Lucid Stock Surges Tuesday Following Prince Alwaleed’s 5% Stake Disclosure
• Neutral Sentiment: Lucid had recently outperformed the broader market in a single session, but that move appears to have provided little lasting support as investors return attention to fundamentals. Lucid Group Outpaces Stock Market Gains
• Negative Sentiment: EV shares are selling off broadly, with Lucid falling in sympathy as Rivian also declined despite reporting a quarterly beat and raising full-year guidance. The reaction suggests investors remain concerned about demand, profitability and the sector’s outlook. Rivian Sinks Despite Q2 Beat and Raised Guidance; Lucid Falls
• Negative Sentiment: Lucid’s shares are down 96% over five years, highlighting persistent investor concerns about its ability to scale production, generate sustainable demand and reach profitability. Bankruptcy rumors are adding to the pressure, although they remain speculation. Lucid Shares Down 96% in Five Years

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LCID. Citigroup reaffirmed a “buy” rating and issued a $14.00 price objective (down from $17.00) on shares of Lucid Group in a research note on Friday, May 15th. Cantor Fitzgerald reiterated a “neutral” rating and set a $14.00 price target on shares of Lucid Group in a research note on Monday, May 4th. Robert W. Baird set a $6.00 price objective on Lucid Group in a research note on Wednesday, May 6th. Benchmark cut Lucid Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Lucid Group presently has a consensus rating of “Reduce” and an average price target of $9.56.

Lucid Group Trading Down 9.1%

The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -0.56 and a beta of 0.83. The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $8.01. The company has a quick ratio of 0.48, a current ratio of 1.02 and a debt-to-equity ratio of 3.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Uber Technologies Inc bought a new stake in shares of Lucid Group in the third quarter valued at approximately $326,283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Lucid Group by 39.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company’s stock valued at $25,973,000 after purchasing an additional 3,465,542 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Lucid Group by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company’s stock valued at $127,488,000 after purchasing an additional 701,826 shares during the period. Goldman Sachs Group Inc. grew its position in Lucid Group by 112.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock worth $13,166,000 after purchasing an additional 2,874,603 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Lucid Group by 93.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,485,715 shares of the company’s stock worth $9,465,000 after purchasing an additional 2,167,882 shares during the period. 75.17% of the stock is owned by institutional investors.

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.