TLDR
- Lucid shares rose 8.66% on Friday, closing at $2.51
- Company delivered 3,109 vehicles in Q1, generating $235 million in revenue (36% increase year-over-year)
- Plans to ramp up production to 20,000 units annually, more than double last year’s 9,000 deliveries
- Q1 net loss widened to $731 million from $685 million a year ago
- Stock has a consensus “Hold” rating with an average price target of $2.68
Lucid Group shares jumped 8.66% on Friday, closing at $2.51 as investors responded positively to the company’s expansion plans despite mixed first-quarter results. The electric vehicle manufacturer reported delivering 3,109 units in Q1, generating $235 million in sales, a 36% increase from the same period last year.
The stock traded as high as $2.45 during mid-day trading before settling at $2.43, with approximately 44.2 million shares changing hands. This represents a 32% decline from the average daily volume of 65.5 million shares.
Lucid’s strong share performance came despite reporting mixed earnings results for the first quarter of 2025. The company missed analyst expectations, posting a loss of $0.24 per share compared to the consensus estimate of $0.23 per share.
Revenue for the quarter reached $235.05 million, falling short of the expected $250.50 million. However, this still represented a 36.1% increase compared to the same quarter last year.
Production Targets Drive Investor Confidence
Investors appeared focused on Lucid’s forward-looking plans rather than its current financial performance. The company is on track to increase vehicle production to 20,000 units annually, more than doubling the 9,000 vehicles delivered in 2024.
Interim CEO Marc Winterhoff expressed optimism about the company’s direction. “We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities,” he stated.
Winterhoff also highlighted progress with the company’s newest model. “Lucid Gravity is beginning to arrive in more customers’ driveways and at our studios, and combined with our progress toward future initiatives, our company is well-positioned for future success,” he noted.
The company’s expansion plans come despite an increasing net loss. In the first three months of 2025, losses attributable to shareholders widened by 6.7% to $731 million from $685 million in the same period last year.
Lucid currently maintains a debt-to-equity ratio of 0.77, a quick ratio of 3.26, and a current ratio of 3.71. The company has a market capitalization of $7.61 billion and a price-to-earnings ratio of -1.87.
Wall Street remains cautious on Lucid stock. According to MarketBeat data, the company has a consensus rating of “Hold” with an average price target of $2.68.
Recent analyst actions include Stifel Nicolaus cutting their price objective from $3.50 to $3.00 while maintaining a “hold” rating. Redburn Atlantic downgraded shares from “neutral” to “sell” with a price target reduction from $3.50 to $1.13.
Overall, two analysts have issued “sell” ratings, eight have given “hold” ratings, and two have assigned “buy” ratings to the stock.
Institutional investors have been making moves in Lucid shares. Deutsche Bank AG boosted its stake by 5.8% in the first quarter, while Charles Schwab Investment Management Inc. increased its holdings by 2.2%.
Vanguard Group Inc. remains a major shareholder, holding over 110.9 million shares valued at approximately $268.5 million after increasing its position by 0.6% in the first quarter.
Lucid’s quarterly revenue was $235.05 million, with a negative return on equity of 74.67% and a negative net margin of 406.63%.
Analysts forecast that Lucid Group will post earnings of -$1.25 per share for the current fiscal year.
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