Lucid Group (NASDAQ:LCID) Stock Price Down 16.2% – Here’s What Happened

Lucid Group, Inc. (NASDAQ:LCID)’s share price dropped 16.2% during mid-day trading on Tuesday . The stock traded as low as $2.37 and last traded at $4.62. 153,840,945 shares traded hands during mid-day trading, an increase of 1,057% from the average daily volume of 13,301,884 shares. The stock had previously closed at $5.51.

Key Headlines Impacting Lucid Group

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

• Positive Sentiment: Lucid’s CEO publicly rejected bankruptcy speculation, which helped restore investor confidence and fueled a strong rebound in the stock. Lucid Group (LCID) Rockets 29% After CEO Shuts Down Bankruptcy Claims
• Positive Sentiment: The company said it is “funded well into next year,” reinforcing the idea that it has enough cash to keep operating despite the recent turmoil. Lucid Stock Jumps 16%. The EV Maker Is ‘Funded Well Into Next Year.’
• Neutral Sentiment: Several law firms are promoting July 28 securities class action deadlines tied to earlier investor losses, adding legal overhang but not directly changing Lucid’s operating outlook. LCID Deadline: LCID Investors with Losses in Excess of $100K Have Opportunity to Lead Lucid Group, Inc. Securities Fraud Lawsuit
• Neutral Sentiment: Analysts and commentary remain cautious, with some saying the rebound may not last if earnings revisions and broader business challenges stay weak. Lucid Group (LCID) Moves 28.8% Higher: Will This Strength Last?
• Negative Sentiment: Despite the relief rally, Lucid remains under pressure from restructuring concerns, ongoing legal actions, and a still-challenged EV business model, which could limit further upside. Lucid Stock, Down About 44% This Year, Skyrockets Over 28% After CEO Goes on the Offensive Against Bankruptcy Report: ‘So Far From the Facts’

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LCID. Evercore set a $6.00 target price on Lucid Group in a research report on Monday, May 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a report on Wednesday, June 24th. TD Cowen lowered their target price on Lucid Group from $10.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $7.00 price target (down from $8.00) on shares of Lucid Group in a report on Monday. Finally, Morgan Stanley set a $5.00 price objective on shares of Lucid Group in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Lucid Group presently has a consensus rating of “Reduce” and a consensus target price of $9.56.

Lucid Group Stock Up 4.9%

The company has a quick ratio of 0.48, a current ratio of 1.02 and a debt-to-equity ratio of 3.00. The company has a market capitalization of $2.44 billion, a PE ratio of -0.47 and a beta of 0.83. The business’s 50 day simple moving average is $5.76 and its 200 day simple moving average is $8.32.

Hedge Funds Weigh In On Lucid Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Lucid Group by 9.5% during the first quarter. Royal Bank of Canada now owns 110,716 shares of the company’s stock valued at $267,000 after buying an additional 9,578 shares in the last quarter. AQR Capital Management LLC grew its stake in Lucid Group by 89.9% during the 1st quarter. AQR Capital Management LLC now owns 537,801 shares of the company’s stock valued at $1,226,000 after acquiring an additional 254,551 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Lucid Group by 103.2% in the 1st quarter. NewEdge Advisors LLC now owns 37,987 shares of the company’s stock valued at $92,000 after purchasing an additional 19,294 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Lucid Group by 112.0% in the first quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock worth $13,166,000 after purchasing an additional 2,874,603 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Lucid Group by 11.3% during the first quarter. Empowered Funds LLC now owns 110,844 shares of the company’s stock worth $268,000 after purchasing an additional 11,252 shares during the period. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

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.