Robert W. Baird Lowers Lucid Group (NASDAQ:LCID) Price Target to $12.00

Key Points

• Robert W. Baird cut its price target on Lucid to $12.00 (from $14) while keeping a "neutral" rating; MarketBeat's consensus is a "Reduce" with an average price target of $12.57.
• Lucid announced a ~ $1.05B capital raise (including a $300M public offering) and expanded its Uber/PIF robotaxi partnership, but investor concern over dilution and share overhang drove the stock lower and spurred a Pomerantz investor investigation.

Lucid Group (NASDAQ:LCID - Get Free Report) had its price objective decreased by Robert W. Baird from $14.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's price target would suggest a potential upside of 36.36% from the stock's current price.

Other analysts also recently issued research reports about the stock. Benchmark restated a "buy" rating on shares of Lucid Group in a report on Thursday, February 19th. Zacks Research upgraded shares of Lucid Group from a "strong sell" rating to a "hold" rating in a report on Thursday, March 5th. Bank of America assumed coverage on shares of Lucid Group in a report on Wednesday, March 4th. They set an "underperform" rating and a $10.00 price target for the company. Citigroup assumed coverage on shares of Lucid Group in a report on Wednesday, March 18th. They set a "buy" rating and a $17.00 price target for the company. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Lucid Group in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Lucid Group currently has a consensus rating of "Reduce" and a consensus price target of $12.57.

Lucid Group Stock Down 4.8%

Shares of NASDAQ LCID opened at $8.80 on Wednesday. Lucid Group has a 12-month low of $8.32 and a 12-month high of $33.70. The stock has a market cap of $2.88 billion, a PE ratio of -0.73 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.83 and a debt-to-equity ratio of 3.00. The company has a 50-day moving average of $9.91 and a 200 day moving average of $13.05.

Institutional Investors Weigh In On Lucid Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new stake in shares of Lucid Group in the 3rd quarter valued at $1,361,978,000. Uber Technologies Inc purchased a new position in shares of Lucid Group in the 3rd quarter valued at $326,283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Lucid Group by 39.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company's stock valued at $25,973,000 after buying an additional 3,465,542 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Lucid Group by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company's stock valued at $127,488,000 after buying an additional 701,826 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Lucid Group by 112.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company's stock valued at $13,166,000 after buying an additional 2,874,603 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group News Roundup

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

• Positive Sentiment: Lucid appointed Silvio Napoli (former Schindler CEO) as its new CEO — investors viewed this as a governance and operational improvement that could accelerate production and profitability. Read More.
• Positive Sentiment: Lucid expanded its Uber robotaxi partnership to at least 35,000 vehicles and secured additional strategic investments from Uber and an affiliate of Saudi Arabia’s PIF, providing material committed capital and longer‑term commercial upside for an autonomous-vehicle pathway. Read More.
• Neutral Sentiment: Lucid priced a $300M underwritten public offering (part of a broader ~ $1.05B raise including private placements), which strengthens near-term liquidity but also increases potential share supply. Investors are weighing the tradeoff between cash runway and dilution. Read More.
• Neutral Sentiment: Operational update: Lucid reported Q1 production/delivery figures (5,500 produced; 3,093 delivered) — relevant context for revenue ramp and cash burn but not the main driver of today’s move. Read More.
• Negative Sentiment: Market reaction focused on dilution and share‑overhang: filings disclosed a registered offering of ~36.06M shares at ~$8.11 underwriter price and private placements including $550M convertible preferred to an affiliate of PIF and $200M to Uber — investors sold on higher potential share count and conversion risk. Read More.
• Negative Sentiment: Analyst pressure: RBC lowered its price target to $8 (sector perform), and coverage notes contributed to a move to a new 52‑week low as downgrades reinforced cautious sentiment. Read More.
• Negative Sentiment: Pomerantz law firm opened an investor investigation into Lucid, adding legal/contingent liability risk and additional investor uncertainty. Read More.

Lucid Group Company Profile

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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