Lucid Group (NASDAQ:LCID) Shares Up 3.5% – Here’s What Happened

Lucid Group, Inc. (NASDAQ:LCID)’s share price rose 3.5% during mid-day trading on Thursday . The stock traded as high as $10.40 and last traded at $10.30. Approximately 4,289,709 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 7,386,672 shares. The stock had previously closed at $9.95.

More Lucid Group News

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

• Positive Sentiment: Citigroup initiated coverage with a “buy” rating and a $17 price target (about ~65% upside versus the recent price), giving an immediate analyst-driven lift to the stock. Citigroup Initiates Coverage
• Positive Sentiment: Company roadmap news highlights a new midsize EV platform to underpin three vehicles (Lucid Cosmos, Lucid Earth and a Lunar robotaxi concept) with management targeting a sub-$50,000 entry price for the platform — a potential boost to addressable market and volume if execution follows. Product Roadmap & Pricing Target
• Neutral Sentiment: Sector-level news: Rivian’s large Uber robotaxi deal is drawing capital and attention into EV/autonomy plays — this can reallocate investor flows within the EV group (mixed implications for LCID). Rivian-Uber Deal
• Neutral Sentiment: A number of commentary pieces and analysis (including a long-form view noting turnaround potential) highlight that Lucid remains a high-risk, high-reward name — useful for longer-term investors but only incremental near-term impact. Long-term Outlook Discussion
• Neutral Sentiment: An article announcing a former Pfizer R&D leader as board chair appears to reference a different company named “Lucid Group” (healthcare communications) and not Lucid Motors (LCID); investors should treat that item as likely unrelated to LCID. Potentially Unrelated Board Appointment
• Negative Sentiment: Brokerage consensus remains weak: an aggregate brokerage score published shows an average recommendation of “Reduce,” which weighs on sentiment and can pressure the shares. Brokerage Consensus: Reduce
• Negative Sentiment: Near-term trading weakness: multiple market write-ups report a recent daily decline (~-3.6% to ~$9.95 on the last close), reflecting short-term selling pressure and volatility. Recent Daily Decline

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Benchmark reaffirmed a “buy” rating on shares of Lucid Group in a report on Thursday, February 19th. Citigroup initiated coverage on Lucid Group in a research note on Wednesday. They issued a “buy” rating and a $17.00 price target for the company. Bank of America initiated coverage on Lucid Group in a research report on Wednesday, March 4th. They issued an “underperform” rating and a $10.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $10.00 price objective on shares of Lucid Group in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $13.14.

Lucid Group Trading Up 3.5%

The stock has a market cap of $3.38 billion, a PE ratio of -0.85 and a beta of 1.12. The stock has a 50-day moving average price of $10.38 and a two-hundred day moving average price of $14.54. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.25 and a quick ratio of 0.83.

Hedge Funds Weigh In On Lucid Group

Several institutional investors have recently added to or reduced their stakes in LCID. Tudor Investment Corp ET AL purchased a new stake in Lucid Group during the 3rd quarter valued at $1,361,978,000. Geode Capital Management LLC increased its position in Lucid Group by 7.4% during the second quarter. Geode Capital Management LLC now owns 22,642,839 shares of the company’s stock valued at $47,784,000 after acquiring an additional 1,554,419 shares during the last quarter. Uber Technologies Inc purchased a new stake in shares of Lucid Group in the third quarter valued at $326,283,000. Marshall Wace LLP raised its stake in shares of Lucid Group by 2,398.5% in the second quarter. Marshall Wace LLP now owns 12,652,537 shares of the company’s stock valued at $26,697,000 after acquiring an additional 12,146,136 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Lucid Group by 39.2% in 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 acquiring an additional 3,465,542 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.