TLDR:
- Lucid Group’s stock rose 4.1% to $2.92, with trading volume down 68% from average
- Company delivered 10,241 cars in 2024 (71% increase) and produced 9,029 units (7% up from 2023)
- Q4 2024 saw revenue of $200 million against $992 million in losses
- Saudi Arabia’s Public Investment Fund owns over 60%, providing strong financial backing
- Wall Street analysts give average 12-month price target of $3.07, with forecasts ranging from $2 to $4
Lucid Group (NASDAQ:LCID) continues to navigate challenging market conditions as its stock performance and operational metrics present a complex picture for investors. The luxury electric vehicle maker’s shares recently experienced a 4.1% uptick in trading, reaching $2.92 after previously closing at $2.80.
Trading activity for LCID showed notable changes, with 25,292,577 shares changing hands during the session. This represents a 68% decrease from the average daily volume of 80,167,672 shares, indicating reduced market participation.

The company’s delivery numbers for 2024 paint an optimistic picture, with 10,241 vehicles delivered throughout the year, marking a 71% increase from 2023. Production figures also showed improvement, with 9,029 units manufactured in 2024, representing a 7% rise from the previous year.
Fourth quarter performance metrics reveal both progress and ongoing challenges. Lucid produced 3,386 vehicles and delivered 3,099 units during Q4 2024. However, financial results show continuing pressures, with the company reporting $200 million in revenue against substantial losses of $992 million for the quarter.
The company maintains strong financial backing, particularly from the Saudi Arabia Public Investment Fund, which holds more than 60% ownership. This support provides Lucid with operational runway extending into 2026, according to company statements.
Wall Street analysts maintain a cautious but slightly optimistic outlook. The current consensus shows an average 12-month price target of $3.07, based on evaluations from eight analysts. Price targets range from a low of $2 to a high of $4, suggesting potential upside from current levels.
Recent analyst actions include R.F. Lafferty’s upgrade of Lucid to ‘Buy’ from ‘Hold’ in late 2024, with a $4 price target. The firm cited improvements in cost structure and steady sales growth as key factors in their decision.
The company’s stock metrics show a 50-day moving average of $2.77 and a 200-day moving average of $3.00. Current market capitalization stands at $8.87 billion, with a price-to-earnings ratio of -2.20 and a beta of 0.93.
Lucid’s balance sheet indicates a debt-to-equity ratio of 0.77, while maintaining a quick ratio of 3.26 and a current ratio of 3.71. These figures suggest adequate liquidity for near-term operations.
The company’s latest quarterly earnings report showed earnings per share of ($0.41), missing analyst consensus estimates of ($0.32) by $0.09. Revenue reached $200.04 million, slightly exceeding market expectations of $199.50 million.
Institutional investment activity shows continued interest in the company. Recent institutional buyers include Sanctuary Advisors LLC, Newbridge Financial Services Group Inc., and First National Corp MA ADV, among others. Currently, institutional investors and hedge funds own 75.17% of the company’s stock.
Looking ahead, Lucid plans to expand its product line with the introduction of the Gravity SUV. The company’s CEO, Peter Rawlinson, has indicated potential partnerships with traditional automakers, though no formal agreements have been announced.
Market conditions present additional challenges, including reduced EV incentives that could impact demand for Lucid’s luxury vehicles. Competition remains strong, particularly from established manufacturers in the electric vehicle space.
Recent trading data shows the stock reaching a high of $2.94 during the session before settling at $2.92. Analysts project full-year earnings per share of -1.25 for the current fiscal period.
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