The stock of Lucid Group Inc (NASDAQ: LCID) has decreased by -5.10 when compared to last closing price of 3.53.Despite this, the company has seen a loss of -5.90% in its stock price over the last five trading days. seekingalpha.com reported 2024-09-30 that Lucid Group’s deliveries and revenue have grown, but they fall short of early guidance, reflecting a reset of expectations amid a challenging macro environment. The company faces significant cash burn, with a negative free cash flow of $41.3 million in the recent second quarter and a constricted liquidity runway. Continuous funding from Saudi Arabia’s PIF is crucial, but future infusions are at risk due to potential shifts in oil prices and Saudi economic policies.
Is It Worth Investing in Lucid Group Inc (NASDAQ: LCID) Right Now?
The 36-month beta value for LCID is at 1.05. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 12 as “hold,” and 3 as “sell.”
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The public float for LCID is 871.17M, and currently, shorts hold a 29.53% of that float. The average trading volume for LCID on October 01, 2024 was 38.14M shares.
LCID’s Market Performance
LCID’s stock has seen a -5.90% decrease for the week, with a -16.67% drop in the past month and a 21.82% gain in the past quarter. The volatility ratio for the week is 3.72%, and the volatility levels for the past 30 days are at 6.04% for Lucid Group Inc The simple moving average for the past 20 days is -8.28% for LCID’s stock, with a 4.76% simple moving average for the past 200 days.
Analysts’ Opinion of LCID
Many brokerage firms have already submitted their reports for LCID stocks, with Cantor Fitzgerald repeating the rating for LCID by listing it as a “Neutral.” The predicted price for LCID in the upcoming period, according to Cantor Fitzgerald is $4 based on the research report published on August 06, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see LCID reach a price target of $2.90. The rating they have provided for LCID stocks is “Neutral” according to the report published on April 22nd, 2024.
Cantor Fitzgerald gave a rating of “Underweight” to LCID, setting the target price at $4 in the report published on February 22nd of the current year.
LCID Trading at -4.97% from the 50-Day Moving Average
After a stumble in the market that brought LCID to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -41.02% of loss for the given period.
Volatility was left at 6.04%, however, over the last 30 days, the volatility rate increased by 3.72%, as shares sank -13.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.66% lower at present.
During the last 5 trading sessions, LCID fell by -6.88%, which changed the moving average for the period of 200-days by -26.17% in comparison to the 20-day moving average, which settled at $3.63. In addition, Lucid Group Inc saw -20.43% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at LCID starting from Bach Eric, who sale 89,959 shares at the price of $3.14 back on Aug 16 ’24. After this action, Bach Eric now owns 2,028,268 shares of Lucid Group Inc, valued at $282,471 using the latest closing price.
ERIC M BACH, the Officer of Lucid Group Inc, proposed sale 89,959 shares at $3.14 during a trade that took place back on Aug 16 ’24, which means that ERIC M BACH is holding shares at $282,489 based on the most recent closing price.
Stock Fundamentals for LCID
Current profitability levels for the company are sitting at:
- -4.47 for the present operating margin
- -1.63 for the gross margin
The net margin for Lucid Group Inc stands at -3.9. The total capital return value is set at -0.41. Equity return is now at value -51.52, with -29.58 for asset returns.
Based on Lucid Group Inc (LCID), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at -0.96. The debt to equity ratio resting at 0.51. The interest coverage ratio of the stock is -977.05.
Currently, EBITDA for the company is -3.1 billion with net debt to EBITDA at -0.37. When we switch over and look at the enterprise to sales, we see a ratio of 13.12. The receivables turnover for the company is 5.89for trailing twelve months and the total asset turnover is 0.08. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.96.
Conclusion
In conclusion, Lucid Group Inc (LCID) has had a bad performance lately. Opinion on the stock among analysts is bearish, with some giving it a “sell” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
