Lucid Group (NASDAQ:LCID) Stock Gets Price Target Trim from Citigroup

Lucid Group (NASDAQ:LCID) had its target price decreased by Citigroup from $11.00 to $9.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

LCID has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a research note on Monday, September 21st. Morgan Stanley lowered their target price on Lucid Group from $5.00 to $3.00 and set an “underweight” rating for the company in a research note on Thursday, October 15th. UBS Group restated a “hold” rating on shares of Lucid Group in a report on Tuesday, October 6th. Robert W. Baird dropped their price objective on Lucid Group from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Cantor Fitzgerald cut their target price on shares of Lucid Group from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $7.11.

Lucid Group Trading Down 9.5%

LCID opened at $2.95 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -0.22 and a beta of 0.80. The stock has a 50-day moving average price of $3.73 and a 200-day moving average price of $6.53. Lucid Group has a 12-month low of $2.37 and a 12-month high of $14.91.

Lucid Group (NASDAQ:LCID) last released its earnings results on Monday, November 9th. The company reported ($2.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.27) by ($0.03). The firm had revenue of $350.32 million during the quarter, compared to the consensus estimate of $395.67 million. Lucid Group had a negative return on equity of 1,391.51% and a negative net margin of 253.58%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.65) EPS. On average, equities research analysts predict that Lucid Group will post -11.56 EPS for the current year.

Institutional Investors Weigh In On Lucid Group

Several institutional investors and hedge funds have recently made changes to their positions in LCID. Bank of America Corp DE grew its holdings in Lucid Group by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,919,073 shares of the company’s stock valued at $18,289,000 after buying an additional 189,134 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lucid Group in the second quarter worth $3,125,000. Lazard Asset Management LLC lifted 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 worth $2,904,000 after buying an additional 200,604 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Lucid Group during the second quarter worth $1,368,000. Finally, Quantinno Capital Management LP boosted its position in shares of Lucid Group by 246.0% during the first quarter. Quantinno Capital Management LP now owns 202,651 shares of the company’s stock worth $1,931,000 after acquiring an additional 144,089 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Lucid Group News Summary

These are some of the LCID news items that stood out recently:

• Neutral Sentiment: Tesla plans to wind down Cybertruck production by summer 2027 to make room for Cybercab, while Lucid and Rivian pursue higher volumes with more affordable offerings. The change could modestly alter the competitive landscape, but its implications for Lucid are uncertain. Article: Zero To Sixty: Tesla Winds Down Cybertruck, Pulls Model Y Variant While Rivian, Lucid Chase Volumes
• Neutral Sentiment: Lucid’s earnings call highlighted progress, though the company continues to face substantial losses—limiting the significance of operational advances for investors focused on profitability and cash needs. Article: Lucid Group Earnings Call Shows Progress Amid Heavy Losses
• Negative Sentiment: Recent coverage tied selling pressure to Lucid’s disappointing quarterly report: the company missed analyst estimates for both adjusted earnings per share and revenue. The results renewed concerns about execution and the path to scaling sales. Article: Lucid Group (LCID) Loses This Much; 2 Analysts Turn Bearish Article: Lucid Group Stock Falls Amid Disappointing Q3 Results and Analyst Target Cuts

About Lucid Group

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.