Lucid Group Inc. (NASDAQ: LCID) stock fell more than 8% Thursday as investors weighed disappointing third-quarter results, analyst price-target cuts, and continued weakness in electric-vehicle stocks.

The decline came despite modest gains in the broader market. The Nasdaq Composite rose 0.06%, while the S&P 500 gained 0.09%. Meanwhile, the Russell 2000 fell 0.94%, reflecting pressure on smaller companies.

Lucid Misses Third-Quarter Estimates

Lucid reported third-quarter revenue of $350.32 million Monday, missing analysts' estimate of $407.31 million.

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

Revenue increased 4% year over year. Lucid produced 2,954 vehicles and delivered 3,806 during the quarter.

The company said it achieved approximately $800 million in year-to-date savings and is on track to meet its full-year cash flow improvement plan.

Lucid ended the quarter with approximately $2 billion in total liquidity, expected to fund operations and key investments through the fourth quarter of 2027.

Analysts Cut Lucid Price Forecasts

Several Wall Street firms lowered their price forecasts following the earnings report.

On Tuesday, TD Cowen cut its price forecast to $4 while maintaining a Hold rating. Cantor Fitzgerald reduced its forecast to $6 and kept a Neutral rating.

Citigroup maintained its Buy rating Wednesday but lowered its price forecast to $9.

Lucid carries a consensus Hold rating and an average price forecast of $5.17 across eight analysts.

Technical Indicators Signal Continued Weakness

From a trend perspective, LCID is still in a bearish long-term structure: it's trading 10.1% below its 50-day SMA ($3.76), 32.2% below its 100-day SMA ($4.99), and 48.2% below its 200-day SMA ($6.53).

The 20-day SMA ($3.31) is the nearest reference the stock has held recently, but the 20-day SMA below the 50-day SMA keeps the intermediate trend tilted lower.

Momentum is best framed through RSI, which is at 47.45, basically neutral, suggesting Thursday's downdraft is more about trend pressure than an already "stretched" oversold condition.

The stock has key support around $2.50, a level where buyers have previously stepped in. It sits near the lower end of the recent trading range and just above the 52-week low of $2.37.

LCID Price Action

LCID Stock Price Activity: Lucid Group shares were down 8.31% at $3.37 at the time of publication on Thursday, according to market data.