Lucid Group (NASDAQ:LCID) Stock Price Up 11.9% - Still a Buy?

Key Points

• Lucid shares jumped 11.9% to $4.52 after announcing a partnership with Bolt to potentially deploy at least 25,000 autonomous vehicles across Europe, expanding the company’s robotaxi ambitions.
• The opportunity remains long term: initial vehicles may not enter service until 2028, and investors still need to see finalized contracts, regulatory approvals and proof of profitable production at scale.
• Financial and investment risks persist. Lucid continues to report heavy losses and missed its latest earnings estimate; analysts’ average rating is “Reduce,” with a $9.22 average price target.

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) traded up 11.9% during trading on Thursday . The stock traded as high as $4.52 and last traded at $4.5210. 4,747,085 shares were traded during trading, a decline of 65% from the average daily volume of 13,590,254 shares. The stock had previously closed at $4.04.

Lucid Group News Roundup

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

• Positive Sentiment: European robotaxi expansion: Bolt plans to deploy at least 25,000 autonomous Lucid vehicles across major European cities. The initiative would broaden Lucid’s autonomous-mobility strategy beyond the United States and create the potential for a large fleet customer. Bolt, Lucid target at least 25,000 self-driving vehicles in Europe
• Positive Sentiment: Technology and platform validation: The proposed robotaxi network would use Lucid’s midsize vehicle platform and Level 4 autonomous-driving technology, powered by NVIDIA’s Hyperion platform. The deal could improve Lucid’s visibility in the emerging autonomous-vehicle market while potentially supporting future production volumes and recurring fleet revenue. Lucid and Bolt Partner to Develop and Deploy Autonomous Mobility at Scale Across Europe
• Neutral Sentiment: Long-dated and preliminary opportunity: Initial Bolt robotaxis could enter service from 2028, meaning the partnership is unlikely to provide an immediate revenue boost. Investors will likely look for finalized contracts, regulatory approvals, deployment milestones, and evidence that Lucid can produce the vehicles profitably at scale. Lucid Motors has a potential robotaxi partner for Europe
• Negative Sentiment: Financial risks remain: Lucid continues to face substantial losses, weak profitability, and balance-sheet pressure. Its shares had also recently underperformed, so the Bolt announcement may be viewed primarily as a strategic catalyst rather than a resolution of the company’s near-term funding and earnings challenges.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $7.00 price objective (down from $8.00) on shares of Lucid Group in a research note on Monday, July 13th. Citigroup decreased their price target on shares of Lucid Group from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, August 19th. Zacks Research upgraded Lucid Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Weiss Ratings restated a "sell (e+)" rating on shares of Lucid Group in a research note on Wednesday, June 24th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Lucid Group in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Lucid Group presently has an average rating of "Reduce" and an average price target of $9.22.

Lucid Group Price Performance

The stock has a market cap of $1.74 billion, a PE ratio of -0.32 and a beta of 0.81. The company has a current ratio of 1.14, a quick ratio of 0.57 and a debt-to-equity ratio of 3.00. The company's 50 day moving average is $5.88 and its 200-day moving average is $6.83.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($2.78) earnings per share for the quarter, missing the consensus estimate of ($2.36) by ($0.42). Lucid Group had a negative net margin of 249.21% and a negative return on equity of 1,391.51%. The business had revenue of $405.35 million for the quarter, compared to analyst estimates of $381.59 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. The firm's revenue was up 56.2% on a year-over-year basis. As a group, sell-side analysts predict that Lucid Group, Inc. will post -12.15 earnings per share for the current year.

Institutional Trading of Lucid Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in shares of Lucid Group by 6.8% in the first quarter. The Manufacturers Life Insurance Company now owns 39,666 shares of the company's stock worth $378,000 after acquiring an additional 2,520 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Lucid Group by 1,574.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company's stock valued at $28,000 after purchasing an additional 2,740 shares during the last quarter. Allworth Financial LP boosted its holdings in Lucid Group by 249.9% in the 2nd quarter. Allworth Financial LP now owns 4,010 shares of the company's stock valued at $27,000 after purchasing an additional 2,864 shares during the period. IFP Advisors Inc boosted its holdings in Lucid Group by 1,231.3% in the 2nd quarter. IFP Advisors Inc now owns 3,781 shares of the company's stock valued at $25,000 after purchasing an additional 3,497 shares during the period. Finally, Pictet Asset Management Holding SA grew its position 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 worth $213,000 after purchasing an additional 4,485 shares during the last quarter. Institutional investors own 75.17% of the company's stock.

About Lucid Group

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.

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