Lucid Group (NASDAQ:LCID) Shares Down 2.8% – Here’s What Happened

Lucid Group, Inc. (NASDAQ:LCID) dropped 2.8% during trading on Wednesday . The company traded as low as $6.88 and last traded at $6.91. Approximately 22,152,663 shares traded hands during trading, an increase of 131% from the average daily volume of 9,571,517 shares. The stock had previously closed at $7.11.

More Lucid Group News

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

• Positive Sentiment: Uber increases strategic exposure — Uber disclosed an ~11.5% stake in Lucid, expanded a robotaxi order and will deepen autonomy cooperation, which supports demand visibility and strategic credibility for Lucid. Lucid Sees Uber Raise Stake, Expands Robotaxi Commitment
• Positive Sentiment: Market reaction and derivative activity — The Uber disclosure and related reports triggered a sharp intraday rally and heavy call-option buying, indicating speculative bullish positioning and higher short-term trading interest. Why Is Lucid (LCID) Stock Soaring Today
• Neutral Sentiment: Recent capital raises provide runway but don’t resolve burn — Lucid raised roughly $1.05B in recent financings, improving liquidity in the near term but analysts remain concerned about ongoing cash burn and execution, leaving the financing story mixed. Lucid Delivers Good News — Here’s Why the Stock Declined 20% Anyway
• Neutral Sentiment: Long-term AV opportunity vs. margin risk — Coverage on Uber’s AV pivot frames Lucid as a beneficiary of robotaxi demand but warns the economics and margin impact of large AV deployments remain uncertain. Uber’s AV Pivot: Growth Opportunity or Margin Risk? (LCID)
• Negative Sentiment: Shareholder litigation and fraud investigations — Multiple law firms (Schall, Pomerantz) announced probes into Lucid for alleged misstatements/omissions, raising legal and disclosure risk that can pressure the stock. LCID Investors Have Opportunity to Join Lucid Group, Inc. Fraud Investigation with the Schall … Pomerantz Law Firm Investigates Claims On Behalf of Investors of Lucid Group Inc
• Negative Sentiment: Share-price weakness and execution worries — The stock recently hit a new low amid concerns over demand, leadership transition and high leverage/cash burn; those fundamentals continue to cap upside despite strategic partnerships. Why Lucid (LCID) Shares Are Plunging Today

Wall Street Analysts Forecast Growth

LCID has been the subject of a number of recent analyst reports. Cantor Fitzgerald decreased their target price on Lucid Group from $21.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Royal Bank Of Canada reduced their price objective on shares of Lucid Group from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Monday, April 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a report on Friday, March 27th. Zacks Research upgraded shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Robert W. Baird cut their target price on shares of Lucid Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Lucid Group presently has an average rating of “Reduce” and a consensus target price of $12.25.

Lucid Group Trading Down 2.8%

The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.83 and a current ratio of 1.25. The company has a 50-day simple moving average of $9.59 and a 200 day simple moving average of $12.45. The company has a market capitalization of $2.26 billion, a P/E ratio of -0.57 and a beta of 1.16.

Institutional Trading of Lucid Group

A number of hedge funds have recently bought and sold shares of the stock. Pictet Asset Management Holding SA grew its position in Lucid Group by 25.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 22,325 shares of the company’s stock worth $213,000 after purchasing an additional 4,485 shares during the last quarter. J. Derek Lewis & Associates Inc. acquired a new position in shares of Lucid Group during the fourth quarter valued at about $158,000. Corient Private Wealth LLC acquired a new position in shares of Lucid Group during the fourth quarter valued at about $118,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Lucid Group in the fourth quarter valued at about $77,000. Finally, Alpine Global Management LLC lifted its stake in shares of Lucid Group by 561.7% in the fourth quarter. Alpine Global Management LLC now owns 16,160 shares of the company’s stock valued at $171,000 after buying an additional 19,660 shares during the period. 75.17% of the stock is owned by 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.