Lucid Group (NASDAQ:LCID) Trading Up 28.8% – Still a Buy?

Lucid Group, Inc. (NASDAQ:LCID)’s stock price rose 28.8% during mid-day trading on Wednesday . The company traded as high as $6.02 and last traded at $5.95. Approximately 55,895,814 shares traded hands during trading, an increase of 309% from the average daily volume of 13,661,307 shares. The stock had previously closed at $4.62.

Trending Headlines about Lucid Group

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

• Positive Sentiment: Lucid sharply rebounded after its CEO publicly dismissed bankruptcy and take-private rumors, saying the claims were far from the facts and that the company has sufficient liquidity. Lucid Just Soared 29% After Calling Bankruptcy Rumors “Completely False.” Here’s What Its Balance Sheet Actually Shows.
• Positive Sentiment: Market coverage says Lucid’s denial helped the stock recover strongly after the earlier panic selloff, with traders encouraged by the company’s assertion that it is funded into next year. Stock Market Today, July 16: Lucid Group Surges on CEO’s Denial of Bankruptcy and Take-Private Rumors
• Positive Sentiment: Several reports say the stock is on track for one of its best weekly gains in a year as buyers returned after the company pushed back hard against the rumor-driven decline. LCID Stock On Track For Best Week In A Year After Lucid Fires Back At Bankruptcy Speculation
• Neutral Sentiment: Multiple law firms are advertising securities-class-action deadlines tied to Lucid’s earlier disclosures, creating ongoing legal noise but not providing a clear immediate operational catalyst. LCID DEADLINE: ROSEN, A LONGSTANDING FIRM, Encourages Lucid Group, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important July 28 Deadline in Securities Class Action – LCID
• Negative Sentiment: The lawsuits and deadline reminders keep attention on allegations that Lucid misled investors, which could add pressure if investors remain focused on governance and disclosure risks. Lucid Group, Inc. (LCID) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen dropped their price objective on Lucid Group from $10.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Citigroup reissued a “buy” rating and set a $14.00 target price (down from $17.00) on shares of Lucid Group in a report on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. Robert W. Baird set a $6.00 price target on Lucid Group in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Lucid Group in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $9.56.

Lucid Group Price Performance

The business’s 50 day moving average is $5.77 and its 200-day moving average is $8.29. The firm has a market capitalization of $2.55 billion, a P/E ratio of -0.50 and a beta of 0.83. 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 Investors Weigh In On Lucid Group

Large investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Lucid Group by 9.5% in the 1st quarter. Royal Bank of Canada now owns 110,716 shares of the company’s stock valued at $267,000 after purchasing an additional 9,578 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Lucid Group by 89.9% during the 1st quarter. AQR Capital Management LLC now owns 537,801 shares of the company’s stock worth $1,226,000 after buying an additional 254,551 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Lucid Group by 103.2% during the 1st quarter. NewEdge Advisors LLC now owns 37,987 shares of the company’s stock worth $92,000 after buying an additional 19,294 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Lucid Group by 112.0% in the first quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock valued at $13,166,000 after buying an additional 2,874,603 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Lucid Group by 11.3% in the first quarter. Empowered Funds LLC now owns 110,844 shares of the company’s stock valued at $268,000 after buying an additional 11,252 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Company Profile

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.