Citigroup Has Lowered Expectations for Lucid Group (NASDAQ:LCID) Stock Price

Lucid Group (NASDAQ:LCID) had its target price cut by analysts at Citigroup from $11.00 to $9.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup‘s price objective would indicate a potential upside of 144.23% from the stock’s previous close.

LCID has been the topic of several other research reports. Zacks Research upgraded Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Cantor Fitzgerald cut their price objective on shares of Lucid Group from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. TD Cowen reaffirmed a “hold” rating and issued a $4.00 price objective (down from $7.00) on shares of Lucid Group in a research report on Tuesday. UBS Group reissued a “hold” rating on shares of Lucid Group in a research report on Tuesday, October 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.11.

Lucid Group Stock Performance

Lucid Group stock traded down $0.09 during mid-day trading on Wednesday, reaching $3.69. 7,422,810 shares of the company were exchanged, compared to its average volume of 13,308,607. The business has a fifty day moving average of $3.81 and a 200 day moving average of $6.65. The firm has a market cap of $1.45 billion, a P/E ratio of -0.28 and a beta of 0.80. Lucid Group has a 12-month low of $2.37 and a 12-month high of $16.82.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, November 9th. The company reported ($2.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.27) by ($0.03). The company had revenue of $350.32 million during the quarter, compared to analysts’ expectations of $395.67 million. Lucid Group had a negative net margin of 253.58% and a negative return on equity of 1,391.51%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.65) earnings per share. Sell-side analysts predict that Lucid Group will post -12.15 EPS for the current year.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in Lucid Group in the 2nd quarter worth $3,125,000. Headlands Technologies LLC acquired a new position in shares of Lucid Group in the second quarter valued at about $1,368,000. Lazard Asset Management LLC increased its holdings in shares of Lucid Group by 192.6% in the first quarter. Lazard Asset Management LLC now owns 304,737 shares of the company’s stock valued at $2,904,000 after purchasing an additional 200,604 shares during the period. Bank of America Corp DE raised its stake in shares of Lucid Group by 10.9% in the first quarter. Bank of America Corp DE now owns 1,919,073 shares of the company’s stock worth $18,289,000 after purchasing an additional 189,134 shares during the last quarter. Finally, Calamos Advisors LLC lifted its holdings in shares of Lucid Group by 40.0% during the third quarter. Calamos Advisors LLC now owns 525,000 shares of the company’s stock worth $2,137,000 after purchasing an additional 150,000 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Lucid Group

These are some of the LCID headlines that stood out recently:

• Positive Sentiment: Saudi Arabia’s Public Investment Fund expanded Lucid’s credit facility by $1.75 billion, lifting pro forma liquidity to about $3.75 billion and extending its operating runway into Q4 2027. The financing eases immediate cash concerns and supports plans for future vehicles, though it is debt rather than sales growth. Lucid expands PIF credit facility
• Neutral Sentiment: The company is expanding service capacity and reported a 20% global decline in wait times, which could help customer experience and support sales, but the financial impact remains uncertain. Lucid expands service network
• Negative Sentiment: Analyst caution and valuation concerns remain: Cantor Fitzgerald and Baird lowered their price targets and kept neutral ratings, while a recent assessment argued the share price may still be high relative to Lucid’s current sales. Lucid stock looks overvalued

Lucid Group Company Profile

Lucid Group, Inc. designs, engineers and manufactures electric vehicles and related technologies. Its lineup includes the Lucid Air luxury electric sedan and the Lucid Gravity luxury SUV, which combine electric powertrains with software and battery systems developed by the company. The company was founded in 2007 as Atieva, initially focusing on electric-vehicle battery technology, and adopted the Lucid Motors name in 2016 as it expanded into vehicle development. Lucid is headquartered in Newark, California, and manufactures vehicles in Arizona, with additional production and assembly operations in Saudi Arabia.