Citigroup Has Lowered Expectations for Lucid Group (NASDAQ:LCID) Stock Price

Key Points

• Citigroup lowered Lucid’s price target to $9 from $11 but maintained a Buy rating, implying 144% upside from the prior close.
• Analyst sentiment is broadly cautious: MarketBeat reports a consensus “Reduce” rating and a $7.11 average target, with 10 Hold and three Sell ratings among 14 analysts.
• Lucid missed quarterly expectations, reporting an adjusted loss of $2.30 per share versus $2.27 expected and revenue of $350.32 million versus $395.67 million expected; revenue was up 4.1% year over year.

Lucid Group (NASDAQ:LCID - Get Free Report) had its price objective cut by equities research analysts at Citigroup from $11.00 to $9.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 144.23% from the company's previous close.

Other equities analysts also recently issued research reports about the company. TD Cowen reaffirmed a "hold" rating and issued a $4.00 price objective (down from $7.00) on shares of Lucid Group in a research report on Tuesday. UBS Group reiterated a "hold" rating on shares of Lucid Group in a research report on Tuesday, October 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of Lucid Group in a research note on Monday, September 21st. Robert W. Baird lowered their target price on shares of Lucid Group from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Morgan Stanley cut their price target on shares of Lucid Group from $5.00 to $3.00 and set an "underweight" rating on the stock in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Lucid Group currently has a consensus rating of "Reduce" and a consensus target price of $7.11.

Lucid Group Stock Down 2.3%

Lucid Group stock traded down $0.09 during midday trading on Wednesday, reaching $3.69. The stock had a trading volume of 7,422,810 shares, compared to its average volume of 13,308,607. Lucid Group has a 52-week low of $2.37 and a 52-week high of $16.82. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -0.28 and a beta of 0.80. The company has a fifty day moving average of $3.81 and a 200 day moving average of $6.65.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its earnings results on Monday, November 9th. The company reported ($2.30) EPS for the quarter, missing analysts' consensus estimates of ($2.27) by ($0.03). Lucid Group had a negative net margin of 253.58% and a negative return on equity of 1,391.51%. The business had revenue of $350.32 million for the quarter, compared to the consensus estimate of $395.67 million. During the same period in the prior year, the company posted ($2.65) EPS. The company's quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts predict that Lucid Group will post -12.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LCID. Bank of America Corp DE increased its stake in shares of Lucid Group by 10.9% during the first quarter. Bank of America Corp DE now owns 1,919,073 shares of the company's stock valued at $18,289,000 after buying an additional 189,134 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Lucid Group in the second quarter valued at about $3,125,000. Lazard Asset Management LLC lifted its stake in Lucid Group by 192.6% in the first quarter. Lazard Asset Management LLC now owns 304,737 shares of the company's stock worth $2,904,000 after acquiring an additional 200,604 shares during the period. Headlands Technologies LLC purchased a new stake in Lucid Group in the second quarter worth about $1,368,000. Finally, Quantinno Capital Management LP lifted its stake in Lucid Group by 246.0% in the first quarter. Quantinno Capital Management LP now owns 202,651 shares of the company's stock worth $1,931,000 after acquiring an additional 144,089 shares during the period. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Lucid Group

These are some of the LCID headlines that stood out recently:

• Positive Sentiment: Saudi Arabia’s Public Investment Fund expanded Lucid’s credit facility by $1.75 billion, lifting pro forma liquidity to about $3.75 billion and extending its operating runway into Q4 2027. The financing eases immediate cash concerns and supports plans for future vehicles, though it is debt rather than sales growth. Lucid expands PIF credit facility
• Positive Sentiment: Lucid cut quarterly cash consumption by 30% sequentially, an encouraging sign of its operational reset and a key reason investors have focused on improved liquidity despite the earnings miss. Why Lucid stock keeps going up
• Negative Sentiment: Analyst caution and valuation concerns remain: Cantor Fitzgerald and Baird lowered their price targets and kept neutral ratings, while a recent assessment argued the share price may still be high relative to Lucid’s current sales. Lucid stock looks overvalued

About Lucid Group

Lucid Group, Inc. designs, engineers and manufactures electric vehicles and related technologies. Its lineup includes the Lucid Air luxury electric sedan and the Lucid Gravity luxury SUV, which combine electric powertrains with software and battery systems developed by the company. The company was founded in 2007 as Atieva, initially focusing on electric-vehicle battery technology, and adopted the Lucid Motors name in 2016 as it expanded into vehicle development. Lucid is headquartered in Newark, California, and manufactures vehicles in Arizona, with additional production and assembly operations in Saudi Arabia.

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