Lucid Group (NASDAQ:LCID) Hits New 1-Year Low – Here’s Why

Lucid Group, Inc. (NASDAQ:LCID)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $4.70 and last traded at $4.70, with a volume of 21437652 shares traded. The stock had previously closed at $5.15.

Lucid Group News Summary

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

• Positive Sentiment: Lucid announced a rollout of hands-free driving assist and other software upgrades for the Gravity SUV in North America, which could support the product story and highlight ongoing technology progress. Lucid Rolls Out Hands-Free Driving Assist and New Software Features for Lucid Gravity in North America
• Neutral Sentiment: Analysts and market commentators continued debating Lucid’s outlook, including comparisons with Rivian and commentary that the stock is trading near 52-week lows; these pieces may influence trading sentiment but do not change fundamentals on their own. Rivian vs Lucid: This EV Stock Is The Better Buy
• Negative Sentiment: Several law firms issued reminders about a pending securities class action against Lucid Group, citing alleged investor harm and setting a July 28 deadline to seek lead-plaintiff status. This kind of litigation chatter often pressures shares by increasing uncertainty and potential costs. LCID DEADLINE: Levi & Korsinsky Reminds Lucid Group, Inc. Investors of Upcoming Securities Class Action Deadline
• Negative Sentiment: Another headline said a top Lucid executive departed amid a leadership shakeup, adding to concerns about internal stability at a time when the company is already facing heavy scrutiny. Top Lucid Motors executive departs amid new CEO’s leadership shakeup
• Negative Sentiment: A market recap noted Lucid “dipped more than broader market” as the stock settled at $4.70, reinforcing the bearish tone around the name following recent weakness and lawsuit-related headlines. Why Lucid Group (LCID) Dipped More Than Broader Market Today

Analysts Set New Price Targets

LCID has been the topic of several research analyst reports. TD Cowen cut their price target on shares of Lucid Group from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Benchmark lowered shares of Lucid Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their price target on shares of Lucid Group from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Monday, April 13th. Zacks Research upgraded shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Citigroup reiterated a “buy” rating and set a $14.00 price target (down from $17.00) on shares of Lucid Group in a research note on Friday, May 15th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $9.67.

Lucid Group Price Performance

The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.48 and a current ratio of 1.02. The company has a market capitalization of $1.83 billion, a PE ratio of -0.36 and a beta of 0.89. The company’s 50-day simple moving average is $6.83 and its 200-day simple moving average is $9.54.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.53) by ($0.29). Lucid Group had a negative return on equity of 304.01% and a negative net margin of 248.09%.The business had revenue of $282.47 million for the quarter, compared to analysts’ expectations of $358.46 million. During the same period in the previous year, the business posted ($0.20) earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Lucid Group, Inc. will post -10.75 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new position in Lucid Group during the 3rd quarter worth $1,361,978,000. SG Americas Securities LLC grew its position in Lucid Group by 65.9% during the 4th quarter. SG Americas Securities LLC now owns 181,153 shares of the company’s stock worth $1,915,000 after purchasing an additional 71,966 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lucid Group by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company’s stock valued at $127,488,000 after acquiring an additional 701,826 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Lucid Group in the fourth quarter valued at about $1,586,000. Finally, Prakash Investment Advisors LLC boosted its holdings in shares of Lucid Group by 49.4% in the fourth quarter. Prakash Investment Advisors LLC now owns 15,100 shares of the company’s stock valued at $160,000 after acquiring an additional 4,990 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other 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.