Fri Sep 20 12:36:11 UTC 2024: ## Lucid Group Stock Dips 2.6% Amidst Mixed Analyst Sentiment and Earnings Miss

**Lucid Group, Inc. (NASDAQ:LCID)** saw its share price drop by 2.6% on Wednesday, September 18th, closing at $3.68 after trading as low as $3.66. This decline comes after the company missed analysts’ earnings estimates in its latest quarterly report.

The company reported a loss of $0.29 per share for the quarter, missing analysts’ consensus estimates of $0.27. Despite revenue exceeding expectations at $200.58 million, the company recorded a negative net margin of 390.39% and a negative return on equity of 55.35%.

Analysts remain cautious about the stock, with an average rating of “Hold” and a consensus price target of $3.71. Needham & Company LLC, Robert W. Baird, Royal Bank of Canada, and Cantor Fitzgerald have all recently issued ratings ranging from “Hold” to “Neutral” on LCID, with price targets varying from $3.00 to $4.00.

Adding to the downward pressure on the stock, Eric Bach, SVP of Lucid Group, sold 89,959 shares at an average price of $3.14 on August 16th, further fueling investor concerns.

However, some institutional investors are showing continued interest in the company. Sanctuary Advisors LLC, Strategic Investment Solutions Inc. IL, Truist Financial Corp, EP Wealth Advisors LLC, and Algert Global LLC all made significant purchases of LCID shares in the second quarter.

Overall, Lucid Group faces an uphill battle to regain investor confidence. While the company continues to grow its revenue, its financial performance remains weak, and investor sentiment is still heavily influenced by the recent earnings miss and the SVP’s stock sale.

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