Lucid Group, Inc. (NASDAQ: LCID) saw a modest uptick in its stock price during Monday’s trading session, climbing 0.7% to $2.17. The stock hit an intraday high of $2.25 before settling slightly lower. Despite this gain, trading volume was significantly down, with 33.96 million shares exchanged—61% below the average session volume of 87.27 million.
Analyst Sentiment: Mixed Signals for Lucid Group
Several Wall Street analysts have recently revised their ratings for Lucid Group, highlighting continued uncertainty in the electric vehicle (EV) sector.
- Benchmark reaffirmed its “buy” rating and maintained a $5.00 price target, expressing confidence in the company’s long-term potential.
- Redburn Atlantic downgraded LCID to “sell”, slashing its price target from $3.50 to $1.13.
- Stifel Nicolaus also lowered its target price from $3.50 to $3.00, maintaining a “hold” rating.
- Needham & Company LLC reiterated a “hold” rating, signaling caution amid market volatility.
- R.F. Lafferty went against the bearish trend, upgrading Lucid to “buy” and setting a $4.00 price target.
Overall, the company has a consensus “hold” rating with an average target price of $2.69, based on data from MarketBeat. The mixed analyst opinions reflect ongoing concerns about Lucid’s financial health and production scalability.
Stock Performance and Financial Metrics
Lucid Group’s stock has been under pressure, with both short-term and long-term moving averages trending downward:
- 50-day moving average: $2.85
- 200-day moving average: $2.91
The company currently has a market capitalization of $6.26 billion, but its financial ratios raise some red flags:
- Price-to-earnings (P/E) ratio: -1.55 (indicating negative earnings)
- Beta: 0.97 (suggesting stock movement in line with broader market trends)
- Quick ratio: 3.26 (showing strong liquidity)
- Current ratio: 3.71 (indicating a solid ability to cover short-term liabilities)
- Debt-to-equity ratio: 0.77 (moderate leverage)
Institutional Investors Adjust Positions
Despite stock price fluctuations, institutional investors continue to show interest in Lucid Group, adjusting their stakes accordingly:
- Public Employees Retirement System of Ohio increased its holdings by 5.3%, adding 17,230 shares.
- Alpine Global Management LLC raised its stake by 7.4%.
- UBS Asset Management boosted its position by 23.9%, acquiring 504,171 additional shares.
- Worldquant Millennium Advisors LLC made a significant new investment of $5.39 million.
While some investors are increasing their exposure, others remain cautious, balancing optimism with concerns over the EV market’s uncertainty.
