Lucid Group (NASDAQ:LCID) Shares Down 9.1% – Here’s What Happened

Lucid Group, Inc. (NASDAQ:LCID)’s share price dropped 9.1% during mid-day trading on Friday . The stock traded as low as $7.29 and last traded at $7.38. Approximately 9,187,708 shares were traded during trading, a decline of 36% from the average session volume of 14,258,029 shares. The stock had previously closed at $8.12.

More Lucid Group News

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

• Positive Sentiment: Saudi billionaire Prince Alwaleed bin Talal’s reported $129.5 million investment and roughly 5% stake continue to provide a vote of confidence in Lucid. The holding has fueled speculation that additional financial or strategic support could help the company stabilize and expand. Lucid stock holds above $7 support: Can Prince Alwaleed’s stake fuel a rebound?
• Positive Sentiment: Lucid reportedly has substantial cash, which reduces immediate liquidity pressure. However, investors remain focused on whether management can convert that cash into stronger vehicle deliveries, revenue and sustainable growth before it is depleted. Should You Buy Lucid Stock Before Aug. 4?
• Neutral Sentiment: Technical traders are watching the stock’s ability to hold support near $7 after its recent volatility. A sustained rebound could attract momentum buyers, while a break below that level may reinforce bearish sentiment. Lucid stock holds above $7 support: Can Prince Alwaleed’s stake fuel a rebound?
• Negative Sentiment: Lucid is declining in sympathy with a broader selloff in EV shares. Rivian’s sharp drop despite a quarterly beat and higher guidance raised concerns about valuation, demand and the difficult operating environment for unprofitable EV manufacturers. Rivian Sinks 8% Despite Q2 Beat and Raised Guidance; Lucid Falls 6%
• Negative Sentiment: Reports highlighting Lucid’s roughly 96% five-year stock decline and renewed bankruptcy speculation are weighing heavily on investor confidence. The company must demonstrate improving execution and financial sustainability to overcome those concerns. Lucid Shares Down 96% In Five Years
• Negative Sentiment: Investors are likely to remain cautious ahead of Lucid’s expected Aug. 4 update, when production, deliveries, cash usage and forward guidance may determine whether the Saudi investment can translate into a durable recovery.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LCID shares. Cantor Fitzgerald restated a “neutral” rating and issued a $14.00 price objective on shares of Lucid Group in a report on Monday, May 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. Benchmark downgraded shares of Lucid Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. TD Cowen dropped their price target on shares of Lucid Group from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded shares of Lucid Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lucid Group presently has an average rating of “Reduce” and a consensus price target of $9.56.

Lucid Group Stock Performance

The company has a current ratio of 1.02, a quick ratio of 0.48 and a debt-to-equity ratio of 3.00. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -0.56 and a beta of 0.83. The stock has a fifty day moving average price of $6.04 and a 200 day moving average price of $8.01.

Institutional Investors Weigh In On Lucid Group

Large investors have recently added to or reduced their stakes in the stock. Uber Technologies Inc acquired a new position in Lucid Group during the third quarter valued at approximately $326,283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Lucid Group by 39.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company’s stock worth $25,973,000 after buying an additional 3,465,542 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Lucid Group by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company’s stock worth $127,488,000 after buying an additional 701,826 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Lucid Group by 112.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock worth $13,166,000 after buying an additional 2,874,603 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Lucid Group by 93.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,485,715 shares of the company’s stock worth $9,465,000 after buying an additional 2,167,882 shares during the period. Institutional investors own 75.17% of the company’s stock.

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.