Quick Summary
- Tudor Investment Corp disclosed a position of 57.25 million shares in LCID valued at approximately $1.36 billion, representing a 17.66% ownership
- Citi launched coverage with a Buy recommendation and $17 price objective — marking just the second bullish call from Wall Street analysts
- Citi forecasts revenue expansion from $1.4B in 2025 to $9.2B by 2028, supported by upcoming affordable vehicle models
- Analyst consensus stands at “Reduce” with a mean target of $13.14, highlighting worries about capital burn and leverage
- LCID shares started Thursday at $9.95, significantly under its 12-month peak of $33.70 and 200-day average of $14.54
Lucid Group ($LCID) received substantial endorsements this week — though Wall Street remains broadly skeptical.
Tudor Investment Corp acquired 57.25 million shares of LCID during the third quarter, worth approximately $1.36 billion. This purchase grants the investment firm a 17.66% ownership position in Lucid, establishing Tudor as the company’s top institutional shareholder. The position comprises roughly 0.8% of Tudor’s overall portfolio and ranks as its 19th-biggest investment.
Tudor isn’t the only major player increasing their holdings. Rockefeller Capital Management expanded its position by 11.1% during Q2, while Highbridge Capital Management, HBK Investments, and Y Intercept Hong Kong each established fresh positions earlier this year. Institutional ownership currently accounts for approximately 75.17% of shares.
Thursday morning brought Citi’s initiation of coverage on Lucid with a Buy recommendation and $17 price objective. Analyst Michael Ward highlighted Gravity model momentum, the forthcoming Cosmos release, and the Uber collaboration as primary catalysts. The firm sees these elements positioning Lucid toward profitability.
Ward outlined an aggressive implementation schedule: the Gravity rollout concluded in Q4 2025, Cosmos manufacturing begins in Q4 2026, and the Uber robotaxi should commence commercial service by year-end. Lucid also intends to introduce monthly autonomous driving subscriptions in 2027 and intensify its European expansion in 2026.
Citi’s Projected Revenue Growth
Citi’s estimates are bullish. Following Lucid’s $1.4 billion revenue performance in 2025, the firm 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 additionally stated it expects Lucid maintains adequate liquidity through late 2027. Any further capital market transactions, the firm observed, might eliminate uncertainty and redirect investor attention toward products and innovation.
Notably: Citi’s Buy recommendation represents only the second optimistic perspective on LCID from Wall Street. That’s minimal support for a stock currently trading beneath most analyst projections.
Overall Analyst Sentiment
The wider analyst community takes a more reserved stance. Morgan Stanley lowered LCID to “Underweight” in December and reduced its objective from $30 to $10. Cantor Fitzgerald decreased its target from $21 to $14 with a “Neutral” stance in February. Royal Bank of Canada maintained its “Sector Perform” recommendation with a $10 target during the same period. Zacks elevated the stock from “Strong Sell” to “Hold” in early March.
The aggregate consensus remains at “Reduce” with a mean price objective of $13.14 — above current trading levels, but the overall sentiment leans negative. Two analysts assign it Buy ratings, five rate it Hold, and three recommend Sell.
Regarding product development, Lucid has announced intentions for three new vehicles: the Lucid Cosmos, Lucid Earth, and a Lunar robotaxi prototype, all constructed on a midsize framework with a planned starting price under $50,000.
LCID began Thursday trading at $9.95. The 50-day moving average stands at $10.38, while the 200-day reaches $14.54. The stock has 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 a market capitalization of $3.26 billion.
Shares advanced 1.4% during Thursday morning activity following Citi’s coverage launch.
