Lucid Group Inc. (NASDAQ:LCID) stock was up on Thursday, in a move that appears to reflect a technical rebound in a heavily beaten-down electric vehicle stock.
The Nasdaq is down 2.60% while the S&P 500 has shed 1.25% and consumer discretionary is lower by 0.4%. The stock’s intraday movement came without any company-specific news or announcements on Thursday.
• Lucid Group stock is charging ahead with explosive momentum. Why are LCID shares rallying?
Nvidia Ecosystem Deployment
The upward trajectory follows news announced Wednesday at GTC Berlin, where NVIDIA Corp. (NASDAQ:NVDA) revealed that European mobility providers are showcasing autonomous use cases on the Nvidia Hyperion computing platform. Ride-hailing firm Bolt selected the Nvidia Alpamayo Stack software for its European robotaxi program.
The program begins with future Lucid vehicles built on Hyperion. Bolt plans to start gathering real-world driving data in Madrid in 2027, subject to regulatory approval. Germany is set as a priority for a planned rollout of at least 25,000 Level 4-capable future Lucid vehicles.
Analyst Outlook and Earnings Forecast
According to Benzinga, analyst sentiment toward the stock remains neutral, with 11 analysts providing consensus ratings: two Buy, seven Hold, and two Sell. The average consensus price forecast stands at $19, implying a potential upside of 449.2%.
Recent analyst actions include Morgan Stanley maintaining an Underweight rating while lowering its price forecast to $3 on Oct. 15, RBC Capital assigning a Sector Perform rating with a reduced forecast of $4 on Oct. 12 and Citigroup maintaining a Buy rating while lowering its forecast to $11 on Aug. 19.
Looking ahead, the next major catalyst is the company’s earnings report scheduled for Nov. 9. Analysts estimate loss per share of $2.28, an improvement from loss of $2.65 year over year, while revenue is projected to reach $407.31 million, up from $336.58 million in the same period last year.
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Technical Analysis
From a longer-term trend view, Lucid is still in a bearish structure: it’s trading 6.6% below its 20-day SMA ($3.70), 21.3% below its 50-day SMA ($4.39), and more than 50% below its 200-day SMA ($7.10). The 20-day SMA sitting below the 50-day SMA, and the 50-day below the 200-day, reinforces that rallies are still counter-trend until price can reclaim those mid-term averages.
- Key Resistance: $3.70 — Aligns with the 20-day SMA, a nearby level that often acts as the first “prove it” zone in a rebound.
- Key Support: $2.37 — The 52-week low area, which defines the downside line in the sand if the bounce fails
LCID Stock Price Activity: Lucid Group shares were up 7.48% at $3.18 at the time of publication on Thursday, according to Benzinga Pro data.
Photo courtesy: Shutterstock
