Lucid Group (NASDAQ:LCID) Stock Price Down 6.6% Following Weak Earnings

Key Points

• Lucid stock dropped 6.6% after Q1 results revealed a significant earnings miss — reported EPS of ($3.46) vs. ($2.72) consensus — and revenue roughly 36% below estimates due to a supplier-related delay to Gravity SUV deliveries.
• The company completed a roughly $1.05 billion capital raise ( $550M convertible preferred from a Saudi PIF affiliate, $300M registered offering and $200M from Uber, taking Uber’s total to $500M), materially boosting cash and easing near-term financing risk.
• Production and deliveries improved meaningfully (5,500 vehicles produced, +149% YoY; 3,093 deliveries), indicating demand momentum, but Lucid’s profitability remains weak (deep negative ROE/net margins) even as analysts’ average target (~$12.25) implies upside if execution continues to improve.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was down 6.6% during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $6.18 and last traded at $6.25. Approximately 17,312,349 shares changed hands during trading, an increase of 61% from the average daily volume of 10,738,486 shares. The stock had previously closed at $6.69.

The company reported ($3.46) earnings per share for the quarter, missing analysts' consensus estimates of ($2.72) by ($0.74). Lucid Group had a negative return on equity of 138.82% and a negative net margin of 207.87%.

Key Lucid Group News

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

• Positive Sentiment: Completed a ~$1.05 billion capital raise that materially boosts cash — $550M convertible preferred from an affiliate of Saudi PIF, $300M from a registered common offering, and $200M equity from Uber (raising Uber’s total to $500M). This reduces short-term financing risk and supports growth plans. Lucid Announces First Quarter 2026 Financial Results
• Positive Sentiment: Production and deliveries showed meaningful improvement year-over-year: 5,500 vehicles produced (+149% YoY) and 3,093 deliveries in Q1; order intake in North America jumped 144% in March vs. February — evidence demand momentum despite operational hiccups. Lucid Q1 Production & Deliveries
• Positive Sentiment: Wall Street price targets remain materially above the current price (average targets imply large upside), and Cantor Fitzgerald reaffirmed a neutral rating with a $14 target — these analyst views provide potential upside if execution improves. Wall Street Sees Upside for Lucid
• Positive Sentiment: Notable insider buying was reported recently, which can be seen as management confidence in the long-term story. Insider Buy Report
• Neutral Sentiment: Pre-earnings coverage and analyst notes (earnings preview pieces) heightened focus and volatility heading into the report; useful for context but not new fundamentals. Earnings Preview
• Negative Sentiment: Q1 EPS missed materially: reported loss per share was ($3.46) vs. consensus ($2.72) — a $0.74 miss; margins and ROE remain deeply negative, signaling persistent profitability challenges. Q1 Earnings Press Release
• Negative Sentiment: Revenue came in well below expectations — Reuters reports Q1 sales ~36% below analyst estimates after a supplier-related issue disrupted Gravity SUV deliveries in February. That delivery timing problem is a concrete operational headwind that hit near-term revenue and investor confidence. Reuters: Revenue Miss & Supplier Issue

Analyst Ratings Changes

A number of research firms have issued reports on LCID. Benchmark reissued a "buy" rating on shares of Lucid Group in a research report on Thursday, February 19th. Robert W. Baird cut their price target on Lucid Group from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Cantor Fitzgerald reissued a "neutral" rating and issued a $14.00 price objective on shares of Lucid Group in a report on Monday. Bank of America initiated coverage on Lucid Group in a research note on Wednesday, March 4th. They issued an "underperform" rating and a $10.00 price objective on the stock. Finally, TD Cowen reiterated a "hold" rating and set a $10.00 target price (down from $19.00) on shares of Lucid Group in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Lucid Group presently has a consensus rating of "Reduce" and an average target price of $12.25.

Institutional Investors Weigh In On Lucid Group

Several institutional investors have recently made changes to their positions in the stock. Jain Global LLC lifted its position in shares of Lucid Group by 13.3% during the fourth quarter. Jain Global LLC now owns 10,220 shares of the company's stock worth $108,000 after acquiring an additional 1,200 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Lucid Group by 3.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 37,146 shares of the company's stock worth $393,000 after acquiring an additional 1,336 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Lucid Group by 11.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,590 shares of the company's stock worth $144,000 after acquiring an additional 1,430 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Lucid Group by 9.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 17,970 shares of the company's stock worth $190,000 after acquiring an additional 1,569 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Lucid Group by 16.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,645 shares of the company's stock worth $123,000 after acquiring an additional 1,604 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company's stock.

Lucid Group Trading Down 6.6%

The stock has a market cap of $2.05 billion, a PE ratio of -0.52 and a beta of 0.88. The firm has a 50-day simple moving average of $9.06 and a 200-day simple moving average of $11.67. The company has a quick ratio of 0.83, a current ratio of 1.25 and a debt-to-equity ratio of 3.00.

About Lucid Group

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.

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