Lucid Group, Inc. (LCID) has seen its stock price drop over 60% in the past 12 months, affected by weak margins and significant cash burn, while the broader sector rose approximately 12%. Despite this downturn, Lucid has set eight consecutive quarterly delivery records, totaling 15,841 vehicles in 2025, reflecting a 55% year-over-year increase. Key competitors, Tesla and Rivian, reported declines in delivery numbers during the same period.
As of now, Lucid’s stock trades at about 1.57x forward twelve-month sales, significantly lower than the sub-industry average of 3.28x. The company’s upcoming fourth-quarter results are due on February 24, 2026, and management’s ability to address costs and improve deliveries will be crucial for its performance moving forward, with analysts projecting a price target of $12 per share over the next 6-12 months.
Lucid is currently grappling with deeply negative GAAP gross margins and ongoing financial pressures from tariffs and high input costs. A delayed-draw loan facility has extended its liquidity runway into the first half of 2027, allowing time for scaling its Gravity SUV and midsize vehicle programs.
