TLDR
- Lucid Group (LCID) closed at $2.33, up 0.43%, underperforming the broader market
- Q1 2025 earnings report expected May 6 with projected EPS of -$0.23
- Company holds $6.13 billion in liquidity and plans to acquire former Nikola facilities
- Global EV sales increased 29% in Q1 2025, despite tariff concerns
- Cantor Fitzgerald maintains “Overweight” rating with $3 price target
Lucid Group’s stock closed at $2.33 in the latest trading session, posting a modest gain of 0.43%. The electric vehicle maker’s performance lagged behind the broader market, with the S&P 500 surging 2.51%, the Dow Jones rising 2.66%, and the Nasdaq adding 2.71%.
Over the past month, Lucid shares have declined 6.07%. However, this drop was less severe than both the Auto-Tires-Trucks sector’s 9.36% decline and the S&P 500’s 8.86% fall during the same period.
Investors are now turning their attention to Lucid’s upcoming earnings report, scheduled for release on May 6, 2025. Analysts expect the company to report earnings per share of -$0.23, representing a 23.33% improvement compared to the same quarter last year.
Revenue projections look promising, with analysts forecasting $236.1 million for the quarter. This would mark a 36.68% increase from the year-ago period.
Promising Financial Outlook
For the full year 2025, the consensus estimates predict earnings of -$0.93 per share and revenue of $1.29 billion. These figures represent improvements of 25.6% and 60.09%, respectively, compared to 2024.
Lucid ended 2024 with solid financials, reporting fourth-quarter revenue of $234.5 million and annual revenue of $807.8 million. The company maintains a strong liquidity position with $6.13 billion available.
Recent analyst activity reflects cautious optimism about Lucid’s prospects. The company currently holds a Zacks Rank of #3 (Hold), though the Automotive-Domestic industry as a whole sits in the bottom 15% of all industries ranked by Zacks.
On April 3, Cantor Fitzgerald reaffirmed its “Overweight” rating on Lucid stock with a price target of $3. The positive outlook comes as Lucid experiences increasing orders for its electric vehicles, particularly from former Tesla owners.
Expansion Plans Amid Market Volatility
Lucid has confirmed plans to acquire facilities and assets previously owned by Nikola, the bankrupt electric and hydrogen power truck manufacturer. This acquisition forms part of Lucid’s expansion strategy as it pursues growth in the evolving electric vehicle market.
The company continues to develop its product lineup beyond its flagship models, the Lucid Air and Lucid Gravity. Plans include the introduction of three new models aimed at capitalizing on growing EV demand.
Lucid appears well-positioned in the luxury EV market, especially with the introduction of its Gravity SUV platform, which directly competes with Tesla’s Model X.
The broader EV market shows strong momentum despite ongoing trade tensions. Global electric vehicle sales increased by 29% in the first quarter of 2025, reaching 4.1 million units, with March alone seeing 1.7 million vehicles sold.
China leads global EV adoption with a 36% year-over-year increase in Q1 sales, surpassing 1 million units in March ā a level not seen since August 2024. North American EV sales rose by 16% in Q1, building on the 7.3% increase recorded in 2024.
However, the market faces headwinds from recent tariff policies. The 25% tax imposed in February on cars imported from Canada and Mexico, along with additional levies on all auto imports in March, may drive up EV prices substantially.
About 40% of US EV sales come from imports from countries like Mexico, Korea, and Japan. While two-thirds of electric vehicles sold in the US last year were domestically manufactured, parts and components are sourced globally, including from China ā the world’s leading supplier of EV battery materials.
Despite these challenges, analysts remain bullish on the US EV market for 2025, expecting continued growth from 2024’s positive momentum.
The short-term outlook for Lucid stock, currently trading at penny stock levels, may be influenced by these broader market dynamics and upcoming earnings results.
