Lucid Group (NASDAQ:LCID) Trading 11.9% Higher – Here’s Why

Shares of Lucid Group, Inc. (NASDAQ:LCID) traded up 11.9% on Thursday . The company traded as high as $4.52 and last traded at $4.5210. 4,747,085 shares were traded during trading, a decline of 65% from the average daily volume of 13,590,254 shares. The stock had previously closed at $4.04.

Key Lucid Group News

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

• Positive Sentiment: European robotaxi expansion: Bolt plans to deploy at least 25,000 autonomous Lucid vehicles across major European cities. The initiative would broaden Lucid’s autonomous-mobility strategy beyond the United States and create the potential for a large fleet customer. Bolt, Lucid target at least 25,000 self-driving vehicles in Europe
• Positive Sentiment: Technology and platform validation: The proposed robotaxi network would use Lucid’s midsize vehicle platform and Level 4 autonomous-driving technology, powered by NVIDIA’s Hyperion platform. The deal could improve Lucid’s visibility in the emerging autonomous-vehicle market while potentially supporting future production volumes and recurring fleet revenue. Lucid and Bolt Partner to Develop and Deploy Autonomous Mobility at Scale Across Europe
• Neutral Sentiment: Long-dated and preliminary opportunity: Initial Bolt robotaxis could enter service from 2028, meaning the partnership is unlikely to provide an immediate revenue boost. Investors will likely look for finalized contracts, regulatory approvals, deployment milestones, and evidence that Lucid can produce the vehicles profitably at scale. Lucid Motors has a potential robotaxi partner for Europe
• Negative Sentiment: Financial risks remain: Lucid continues to face substantial losses, weak profitability, and balance-sheet pressure. Its shares had also recently underperformed, so the Bolt announcement may be viewed primarily as a strategic catalyst rather than a resolution of the company’s near-term funding and earnings challenges.

Analyst Ratings Changes

LCID has been the subject of several recent research reports. Zacks Research raised Lucid Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Citigroup lowered their price objective on Lucid Group from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 19th. William Blair cut Lucid Group to a “market perform” rating in a research report on Monday, August 3rd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $7.00 price target (down from $8.00) on shares of Lucid Group in a research note on Monday, July 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Lucid Group in a report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Lucid Group has an average rating of “Reduce” and a consensus target price of $9.22.

Lucid Group Stock Up 9.0%

The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -0.32 and a beta of 0.81. The business has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $6.83. The company has a quick ratio of 0.57, a current ratio of 1.14 and a debt-to-equity ratio of 3.00.

Lucid Group (NASDAQ:LCID) last issued its earnings results on Tuesday, August 4th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). The company had revenue of $405.35 million during the quarter, compared to analyst estimates of $381.59 million. Lucid Group had a negative return on equity of 1,391.51% and a negative net margin of 249.21%.The company’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.24) earnings per share. Equities analysts expect that Lucid Group, Inc. will post -12.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LCID. 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 valued at $18,289,000 after acquiring an additional 189,134 shares during the last quarter. Lazard Asset Management LLC grew its position in Lucid Group by 192.6% during the 1st quarter. Lazard Asset Management LLC now owns 304,737 shares of the company’s stock worth $2,904,000 after acquiring an additional 200,604 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Lucid Group during the 2nd quarter valued at $3,125,000. Virtu Financial LLC bought a new position in Lucid Group in the 4th quarter valued at $1,355,000. Finally, Quantinno Capital Management LP boosted its stake in Lucid Group by 246.0% in the first quarter. Quantinno Capital Management LP now owns 202,651 shares of the company’s stock worth $1,931,000 after purchasing an additional 144,089 shares in the last quarter. 75.17% of the stock is owned by institutional investors.

Lucid Group Company Profile

Lucid Group, Inc is an electric vehicle (EV) manufacturer that develops, engineers and produces luxury electric cars and SUVs. The company’s operations include vehicle design, battery systems, electric powertrains, software and charging technologies, with an emphasis on range, performance and interior space.

Lucid’s primary vehicle is the Lucid Air, a luxury electric sedan. The company has also introduced the Lucid Gravity, an electric SUV designed to expand its presence in the premium sport utility vehicle market.