Following the departure earlier in the week of manager Iain Scott, the Queens' board had selected the Australian international who has been out injured for the past month to tide them through until they appoint a new manager.
Lovell said: "I had hoped we would do better but the display was disappointing, particularly in the second half after we lost the goal."
Queens suffered a blow after just eight minutes when veteran schemer Brian McLaughlin had to be taken off with an arm injury.
Clyde had scorned a couple of chances as did Queens before the breakthrough came seven minutes into the second half. Alex Williams slipped a ball through to Craig Bryson, whose cross was hit first time into the net by Neil McGregor.
Clyde increased their lead 15 minutes from time when Williams nipped in behind the defenders to side-foot the ball into the net.
And although Queens pulled one back two minutes from time through David McNiven, the score-line really flattered them.