Lucid Group (NASDAQ:LCID) Shares Down 4.8% - Should You Sell?

On December 29th, 2024, shares of Lucid Group, Inc. (NASDAQ: LCID – Get Free Report) experienced a decline of 4.8% during trading. The stock traded as low as $3.11 and was last observed at $3.14. During the session, 34,454,155 shares changed hands, marking a 19% drop from the average trading volume of 42,427,309. This follows a previous close of $3.30.

Wall Street Analysts Forecast Growth

Several analysts have shared their perspectives on LCID shares. Cantor Fitzgerald reiterated a "neutral" rating and set a price target of $4.00 on December 8th. Cfra issued a target price of $2.00 in their report dated December 17th. Robert W. Baird also maintained a "neutral" rating, suggesting a price target of $3.00 on December 7th. Needham & Company LLC reaffirmed a "hold" rating for the shares on November 8th. Royal Bank of Canada lowered their price target for Lucid Group from $3.00 to $2.00, categorizing it as a sector perform in a note released on November 19th. Currently, one analyst has issued a sell rating, seven analysts suggest holding, while one analyst rates the stock as a buy. Data from MarketBeat.com indicates that the average recommendation for the stock is a "Hold" with a price target of $3.16.

Lucid Group Price Performance

The stock's 50-day moving average stands at $2.41, while the 200-day moving average is $3.00. Lucid Group boasts a market capitalization of $9.64 billion. Its price-to-earnings ratio is recorded at -2.39 and the stock has a beta of 1.08. Financial metrics show a quick ratio of 3.26, a current ratio of 3.71, and a debt-to-equity ratio of 0.77.

Insider Transactions at Lucid Group

On October 30th, the Director Public Investment Fund acquired 374,717,927 shares, purchasing them at an average price of $2.59 per share, totaling approximately $970 million. This acquisition increased the director's stake in the company by -102.19%, bringing their total holdings to about 8 million shares, valued at roughly $20.8 million. This transaction has been disclosed in a filing with the Securities and Exchange Commission. Currently, insiders possess 61.26% of the company's shares.

Hedge Funds Weigh In On Lucid Group

Recently, several institutional investors have adjusted their positions in LCID. Pine Valley Investments Ltd increased its stake in Lucid Group by 34.9% during the second quarter, now holding 13,710 shares worth around $36,000. Principal Financial Group also raised their position in Lucid Group by 6.0%, holding 66,004 shares valued at $172,000. Greenleaf Trust expanded its stake by 22.0% in the third quarter, totaling 25,487 shares valued at $90,000. Amalgamated Bank increased its holdings by 12.5%, owning 47,916 shares worth $125,000. Finally, Xponance Inc. boosted its stake by 20.8%, holding 31,938 shares valued at $83,000. Currently, 75.17% of Lucid Group's stock is owned by hedge funds and institutional investors.

Lucid Group Company Profile

Lucid Group, Inc. is a technology company that specializes in the design, engineering, manufacturing, and sale of electric vehicles (EVs), EV powertrains, and battery systems. The company also develops proprietary software for its vehicles. Lucid sells its products directly to consumers through an established retail network and online sales, including services through Lucid Financial Services.

Lucid, Stock, Analysts