Lucid Group (NASDAQ:LCID) Shares Down 1.9% – Here’s Why

Lucid Group, Inc. (NASDAQ:LCID) traded down 1.9% during trading on Wednesday . The stock traded as low as $3.94 and last traded at $4.04. 11,191,655 shares were traded during trading, a decline of 18% from the average daily volume of 13,649,813 shares. The stock had previously closed at $4.12.

Lucid Group News Summary

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

• Positive Sentiment: European robotaxi expansion: Lucid and European mobility platform Bolt announced a partnership targeting the deployment of at least 25,000 autonomous Lucid vehicles across major European cities. The vehicles are expected to use Lucid’s forthcoming midsize platform and NVIDIA’s Hyperion autonomous-driving architecture, with initial service potentially beginning in 2028. The agreement broadens Lucid’s robotaxi strategy beyond the United States and provides a potential large-scale fleet customer. Bolt, Lucid target at least 25,000 self-driving vehicles in Europe
• Positive Sentiment: Restructuring milestone: Lucid CEO Silvio Napoli said AlixPartners has completed its operational review. Investors viewed the work as a possible step toward improved efficiency, lower costs and better profitability at a company facing substantial losses and high cash needs. Lucid shares climb as operational review charts path to improved profitability
• Neutral Sentiment: Execution remains ahead: The Bolt arrangement is a strategic partnership and deployment target rather than a confirmed vehicle order. Lucid must still finalize vehicle development, autonomous-system integration, regulatory approvals and commercial terms before the opportunity produces meaningful revenue.
• Negative Sentiment: Financial risks remain significant: Lucid’s shares remain well below their 50-day and 200-day moving averages, while the company continues to report steep losses. Its latest quarterly EPS missed expectations, and negative margins, a quick ratio below 1 and high debt relative to equity underscore ongoing liquidity and funding risks. A recent session also saw the stock decline before the Bolt announcement, highlighting continued volatility.

Analysts Set New Price Targets

LCID has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Lucid Group from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Lucid Group in a research note on Monday, August 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a report on Wednesday, June 24th. Zacks Research raised shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $7.00 target price (down from $8.00) on shares of Lucid Group in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.22.

Lucid Group Stock Performance

The firm has a market capitalization of $1.69 billion, a P/E ratio of -0.31 and a beta of 0.81. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.14 and a quick ratio of 0.57. The firm has a 50-day moving average price of $5.85 and a two-hundred day moving average price of $6.79.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($2.78) EPS for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). The company had revenue of $405.35 million during the quarter, compared to the consensus estimate of $381.59 million. Lucid Group had a negative return on equity of 1,391.51% and a negative net margin of 249.21%.The company’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) earnings per share. On average, analysts forecast that Lucid Group, Inc. will post -12.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Lucid Group

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Lucid Group by 6.8% during the first quarter. The Manufacturers Life Insurance Company now owns 39,666 shares of the company’s stock valued at $378,000 after purchasing an additional 2,520 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Lucid Group by 1,574.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company’s stock worth $28,000 after purchasing an additional 2,740 shares in the last quarter. Allworth Financial LP increased its stake in shares of Lucid Group by 249.9% during the second quarter. Allworth Financial LP now owns 4,010 shares of the company’s stock worth $27,000 after purchasing an additional 2,864 shares in the last quarter. IFP Advisors Inc raised its position in shares of Lucid Group by 1,231.3% during the 2nd quarter. IFP Advisors Inc now owns 3,781 shares of the company’s stock worth $25,000 after purchasing an additional 3,497 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Lucid Group by 25.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 22,325 shares of the company’s stock valued at $213,000 after buying an additional 4,485 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Company Profile

Lucid Group, Inc is an electric vehicle (EV) manufacturer that develops, engineers and produces luxury electric cars and SUVs. The company’s operations include vehicle design, battery systems, electric powertrains, software and charging technologies, with an emphasis on range, performance and interior space.

Lucid’s primary vehicle is the Lucid Air, a luxury electric sedan. The company has also introduced the Lucid Gravity, an electric SUV designed to expand its presence in the premium sport utility vehicle market.