Lucid Group (NASDAQ:LCID) Shares Gap Down on Analyst Downgrade
by Danessa Lincoln · The Markets DailyLucid Group, Inc. (NASDAQ:LCID – Get Free Report)’s share price gapped down prior to trading on Monday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $7.36, but opened at $7.07. Lucid Group shares last traded at $7.5660, with a volume of 4,579,747 shares.
Several other brokerages have also recently weighed in on LCID. Citigroup reissued a “buy” rating and set a $14.00 price target (down from $17.00) on shares of Lucid Group in a research report on Friday, May 15th. Benchmark cut shares of Lucid Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Morgan Stanley set a $5.00 price objective on shares of Lucid Group in a research note on Wednesday, May 6th. Robert W. Baird set a $6.00 target price on shares of Lucid Group in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $14.00 target price on shares of Lucid Group in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $9.56.
Read Our Latest Report on Lucid Group
Key Headlines Impacting Lucid Group
Here are the key news stories impacting Lucid Group this week:
- Negative Sentiment: Pomerantz LLP announced a class action against Lucid Group and certain officers, adding legal uncertainty and potential costs for the company. Pomerantz Law Firm Announces the Filing of a Class Action Against Lucid Group, Inc. and Certain Officers – LCID
- Negative Sentiment: Several firms, including Rosen, Kaplan Fox, Faruqi & Faruqi, Levi & Korsinsky, Schall, and Glancy Prongay, are urging investors to join or lead the lawsuit, keeping the litigation story in the spotlight and reinforcing downside sentiment. LCID Investors Have Opportunity to Lead Lucid Group, Inc. Securities Fraud Lawsuit with the Schall Law Firm
- Negative Sentiment: Yahoo Finance highlighted reasons to avoid LCID, citing a steep decline this year and softer quarterly results, which may reinforce investor caution. 3 Reasons to Avoid LCID and 1 Stock to Buy Instead
- Neutral Sentiment: Other recent articles were largely deadline reminders about the same class action, with little new business information beyond the legal process. LUCID UPCOMING DEADLINE: Faruqi & Faruqi, LLP Reminds Lucid Group (LCID) Investors of Securities Class Action Lawsuit Deadline on July 28, 2026
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of Lucid Group by 1,574.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company’s stock worth $28,000 after purchasing an additional 2,740 shares during the period. Brown Advisory Inc. increased its position in shares of Lucid Group by 47.5% during the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock valued at $33,000 after buying an additional 5,000 shares during the period. Jump Financial LLC purchased a new position in shares of Lucid Group during the second quarter valued at about $41,000. Worldquant Millennium Advisors LLC bought a new position in Lucid Group in the second quarter worth about $59,000. Finally, Leonteq Securities AG bought a new position in Lucid Group in the fourth quarter worth about $67,000. 75.17% of the stock is owned by hedge funds and other institutional investors.
Lucid Group Stock Up 3.0%
The company has a quick ratio of 0.48, a current ratio of 1.02 and a debt-to-equity ratio of 3.00. The company’s fifty day simple moving average is $5.84 and its 200 day simple moving average is $8.21. The firm has a market capitalization of $2.86 billion, a PE ratio of -0.55 and a beta of 0.83.
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.