What's Going On With Lucid Group Stock Tuesday?

Lucid Group Inc. (NASDAQ:LCID) stock climbed nearly 7% Tuesday, rebounding despite disappointing third-quarter earnings and weakness across the broader market.

The electric vehicle maker outperformed the Nasdaq, which fell 1.18%, and the S&P 500, which declined 0.65%. The consumer discretionary sector also slipped 0.33%.

The rally followed Lucid’s disappointing quarterly results Monday, when the company missed Wall Street’s earnings and revenue estimates.

Lucid Misses Earnings Estimates, Highlights Cost Savings

Lucid reported third-quarter revenue of $350.32 million, missing the $407.31 million analyst estimate.

Revenue rose 4% year over year despite a 41% decline in the broader U.S. electric vehicle market.

The company posted an adjusted loss of $2.30 per share, wider than the expected loss of $2.28.

Lucid produced 2,954 vehicles and delivered 3,806 during the quarter as it continued reducing inventory.

However, the company reported approximately $800 million in year-to-date savings and reaffirmed its full-year cash flow improvement plan.

Lucid ended September with roughly $2 billion in liquidity, which it expects will support operations and investments into the fourth quarter of 2027.

CEO Silvio Napoli said the company’s transformation was showing progress as management strengthened operations and maintained spending discipline.

Meanwhile, Lucid remains on track to begin producing its midsize vehicle in the second half of 2027. The company plans to announce additional launch details in the first quarter.

According to Benzinga Pro, Lucid’s shares gained after the company reported its third-quarter financial results. Meanwhile, construction of its AMP-2 manufacturing facility in Saudi Arabia is progressing as planned. The facility has entered the final stages of industrialization and commissioning.

Wall Street Cuts Lucid Price Forecasts

Several analysts lowered their price forecasts Tuesday following the earnings report.

TD Cowen maintained its Hold rating while cutting its price forecast to $4.

Cantor Fitzgerald maintained a Neutral rating and lowered its forecast to $6.

Baird also maintained a Neutral rating while reducing its forecast to $5.

Lucid carries a consensus Hold rating, with an average price forecast of $5.50 across eight analysts.

LCID Stock Technical Analysis

Despite Tuesday’s rebound, Lucid remains under pressure over the longer term.

Shares have lost nearly 78% over the past 12 months.

The stock trades above its 20-day simple moving average of $3.29 but remains below its 100-day and 200-day averages of $5.02 and $6.61, respectively.

Meanwhile, the moving average convergence divergence indicator (MACD) has moved above its signal line, suggesting improving short-term momentum.

However, the $4 level remains a key resistance area.

Benzinga Edge assigns Lucid a bearish momentum score of 1.88, highlighting continued weakness in its longer-term price trend.

LCID Price Action

Lucid shares were up 6.81% at $3.85 at the time of publication Tuesday, according to Benzinga Pro data.

Photo by Ian Dewar Photography via Shutterstock