Key Takeaways
- Tudor Investment Corp acquired 57.25 million shares of LCID valued at approximately $1.36 billion, securing a 17.66% ownership position
- Citi launched coverage with a Buy recommendation and $17 price objective — representing just the second bullish call from major analysts
- Citi anticipates Lucid’s sales will surge from $1.4B in 2025 to $9.2B by 2028, fueled by affordable model introductions
- Analyst consensus stays at “Reduce” with a mean price objective of $13.14, highlighting worries about cash consumption and leverage
- LCID shares began trading at $9.95, significantly beneath the 12-month peak of $33.70 and the 200-day average of $14.54
Lucid Group ($LCID) received significant institutional backing this week — though Wall Street’s overall sentiment remains divided.
Tudor Investment Corp accumulated 57.25 million shares of LCID during the third quarter, representing approximately $1.36 billion in value. This purchase grants the investment firm a 17.66% ownership position in Lucid, establishing it as the company’s dominant institutional shareholder. The position now accounts for roughly 0.8% of Tudor’s overall portfolio and ranks as its 19th-largest equity holding.
Tudor isn’t the only major player increasing its position. Rockefeller Capital Management expanded its holdings by 11.1% during Q2, while Highbridge Capital Management, HBK Investments, and Y Intercept Hong Kong all established fresh positions throughout the year. Institutional ownership has climbed to approximately 75.17%.
Thursday morning brought another positive development when Citi launched coverage on Lucid with a Buy recommendation and a $17 price objective. Analyst Michael Ward highlighted Gravity model momentum, the forthcoming Cosmos debut, and the Uber collaboration as critical catalysts. The firm contends these developments position Lucid on a trajectory toward profitability.
Ward outlined an aggressive execution schedule: the Gravity rollout concluded in Q4 2025, Cosmos manufacturing is slated to commence in Q4 2026, and the Uber autonomous vehicle is anticipated to enter commercial service by year’s end. Lucid also intends to introduce monthly autonomous subscription services in 2027 and intensify its European expansion in 2026.
Citi’s Sales Projections
Citi’s forecasts are notably optimistic. Following Lucid’s $1.4 billion revenue performance in 2025, the investment bank anticipates $2.4B in 2026, $5.9B in 2027, and $9.2B in 2028. This growth trajectory depends on successful manufacturing of the more affordable midsize vehicle range.
Citi also indicated confidence that Lucid maintains sufficient liquidity extending through late 2027. Any supplementary capital market transactions, the bank observed, could eliminate uncertainty and redirect investor attention toward product innovation and technological advantages.
Notably: Citi’s Buy recommendation represents only the second optimistic assessment on LCID from major Wall Street analysts. This represents limited institutional support for shares currently trading beneath most analyst projections.
Analyst Sentiment Overview
The wider analyst community maintains a more reserved stance. Morgan Stanley lowered LCID to “Underweight” in December and reduced its price objective from $30 to $10. Cantor Fitzgerald decreased its target from $21 to $14 with a “Neutral” designation in February. Royal Bank of Canada maintained its “Sector Perform” assessment with a $10 target during the same period. Zacks elevated the stock from “Strong Sell” to “Hold” in early March.
The aggregate consensus stands at “Reduce” with a mean price objective of $13.14 — above current trading levels, yet the directional indication is bearish. Two analysts assign it Buy ratings, five recommend Hold, and three suggest Sell.
Regarding product development, Lucid has outlined strategies for three upcoming models: the Lucid Cosmos, Lucid Earth, and a Lunar robotaxi prototype, all constructed on a midsize architecture with a targeted starting price under $50,000.
LCID commenced Thursday trading at $9.95. The 50-day moving average stands at $10.38, while the 200-day rests at $14.54. The stock has recorded a 12-month floor of $9.12 and a 12-month ceiling of $33.70. The company maintains a debt-to-equity ratio of 3.00 and commands a market capitalization of $3.26 billion.
Shares advanced 1.4% during Thursday’s early trading session following the Citi coverage initiation.
