Lucid Group (NASDAQ:LCID) surged 13.83% to close at $18.40 on Friday, after losing for six-sessions.
Prior to Friday’s rise, LCID fell a total of 25.73% over the previous six sessions, including a 1-for-10 split-adjusted record low of $17.36 on September 02. Overall, LCID is down 23.92% over the past month and has dipped 43.18% YTD, underperforming the broader market.
Looking at Seeking Alpha’s Quant Rating, the EV maker has a Hold rating with a score 2.53 out of 5. LCID received B for growth, while it got a F in the prospect of profitability and a D- in momentum.
Meanwhile, Wall Street analysts appear even more cautious with only one rates it a Strong Buy, 10 have given Hold, and three recommended Sell or lower.Seeking Alpha analysts are also cautious and see the stock as a Hold.
Earlier last month, analyst Anna Sokolidou, pointed out that the company has been recording negative profit margins for a while despite increasing sales and relies heavily on external funding.
While another analyst Jack Elias, rates Lucid shares as a Hold at current levels. Says, it has promising growth potential through new EV models and partnerships, but faces major risks from cash burn, weak profitability, and uncertain legislation.