Lucid Group (NASDAQ:LCID) Shares Down 8.7% – Here’s What Happened

Lucid Group, Inc. (NASDAQ:LCID) fell 8.7% on Wednesday . The company traded as low as $4.70 and last traded at $4.70. 20,890,718 shares traded hands during mid-day trading, an increase of 75% from the average session volume of 11,962,236 shares. The stock had previously closed at $5.15.

Key Lucid Group News

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

• Positive Sentiment: LCID shares rebounded intraday after a steep drop, suggesting some dip-buying as traders responded to recent oversold conditions and a product update for the Gravity SUV that highlights ongoing software and driver-assistance improvements. Lucid Group (LCID) Is Down 9.0% After Gravity OTA Upgrade Highlights Innovation Amid Securities Lawsuits
• Neutral Sentiment: Lucid rolled out a major over-the-air update for the Gravity SUV, adding hands-free highway driving, richer Google navigation data, and charging/visibility enhancements for vehicles with DreamDrive 2 Pro. While this supports the product story, it has not been enough to offset the broader legal overhang. Lucid Group (LCID) Is Down 9.0% After Gravity OTA Upgrade Highlights Innovation Amid Securities Lawsuits
• Negative Sentiment: Multiple law firms issued repeated reminders about a securities class action against Lucid Group, Inc. covering investors who bought shares between February 25, 2026 and April 13, 2026, with a lead-plaintiff deadline of July 28, 2026. The allegations center on claims Lucid misrepresented supplier quality problems that disrupted Gravity deliveries, creating a clear legal risk for the stock. ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Lucid Group, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – LCID
• Negative Sentiment: Additional class-action notices from several firms, including Howard G. Smith, Gross Law Firm, Berger Montague, Schall, Wolf Haldenstein, Faruqi & Faruqi, and Pomerantz, kept the litigation story front and center, likely weighing on investor confidence and sentiment around LCID. Lucid Group, Inc. (LCID) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LCID. Citigroup reaffirmed a “buy” rating and issued a $14.00 price target (down from $17.00) on shares of Lucid Group in a report on Friday, May 15th. Morgan Stanley set a $5.00 price target on Lucid Group in a report on Wednesday, May 6th. Evercore set a $6.00 price target on Lucid Group in a report on Monday, May 11th. TD Cowen reduced their price target on Lucid Group from $10.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reduced their price target on Lucid Group from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $9.67.

Lucid Group Trading Up 0.6%

The company has a 50 day simple moving average of $6.74 and a 200 day simple moving average of $9.49. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.48 and a current ratio of 1.02. The company has a market capitalization of $2.03 billion, a PE ratio of -0.39 and a beta of 0.89.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($2.53) by ($0.29). Lucid Group had a negative return on equity of 304.01% and a negative net margin of 248.09%.The firm had revenue of $282.47 million for the quarter, compared to analysts’ expectations of $358.46 million. During the same quarter last year, the firm posted ($0.20) earnings per share. Lucid Group’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts anticipate that Lucid Group, Inc. will post -10.75 earnings per share for the current year.

Institutional Investors Weigh In On Lucid Group

Several large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in Lucid Group during the 3rd quarter worth approximately $1,361,978,000. Uber Technologies Inc purchased a new stake in Lucid Group during the 3rd quarter worth approximately $326,283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Lucid Group by 39.2% during the 2nd 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 in the last quarter. Vanguard Group Inc. grew its position 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 valued at $127,488,000 after purchasing an additional 701,826 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Lucid Group by 112.0% in the first quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock valued at $13,166,000 after purchasing an additional 2,874,603 shares in the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

About Lucid Group

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.