Friday, January 15, 2021

For Luminar Technologies Inc. [LAZR], Analyst sees a rise to $40. What next?

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Luminar Technologies Inc. [NASDAQ: LAZR] stock went on an upward path that rose over 5.88% on Wednesday, amounting to a one-week price increase of more than 8.64%. The company report on December 16, 2020 that Mobileye and Luminar Drive Collaboration Full Speed Ahead.

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Luminar’s technology is integrated into Mobileye’s Autonomous Vehicle (AV) Series Solution.


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Luminar Technologies, Inc. (Nasdaq: LAZR), the global leader in automotive lidar hardware and software technology, and Mobileye, an Intel company and the global leader in assisted driving technology, clarified details of the deal they announced on November 20, 2020 following nearly two years of working together at the development stage.

Over the last 12 months, LAZR stock rose by 228.28%. The one-year Luminar Technologies Inc. stock forecast points to a potential upside of 6.59. The average equity rating for LAZR stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $10.51 billion, with 218.82 million shares outstanding and 203.94 million shares in the current float. Compared to the average trading volume of 10.56M shares, LAZR stock reached a trading volume of 13533176 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Luminar Technologies Inc. [LAZR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LAZR shares is $35.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LAZR stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 06, 2021. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Neutral. The new note on the price target was released on December 23, 2020, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $37, while Deutsche Bank analysts kept a Buy rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 4.39, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 607.01. The Price to Book ratio for the last quarter was 4.28, with the Price to Cash per share for the same quarter was set at 0.00. Price to Free Cash Flow for LAZR in the course of the last twelve months was 105121.27 with Quick ratio for the last quarter at 0.20.

LAZR Stock Performance Analysis:

Luminar Technologies Inc. [LAZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.64. With this latest performance, LAZR shares gained by 18.49% in over the last four-week period, additionally plugging by 206.25% over the last 6 months – not to mention a rise of 228.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LAZR stock in for the last two-week period is set at 57.35, with the RSI for the last a single of trading hit 56.64, and the three-weeks RSI is set at 58.36 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 23.14, while it was recorded at 32.27 for the last single week of trading, and 13.80 for the last 200 days.

Insight into Luminar Technologies Inc. Fundamentals:

Luminar Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

Luminar Technologies Inc. [LAZR] Insider Position Details

There are presently around $835 million, or 11.80% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: DAVIDSON KEMPNER CAPITAL MANAGEMENT LP with ownership of 2,171,476, which is approximately 940.009% of the company’s market cap and around 2.70% of the total institutional ownership; ELEMENT CAPITAL MANAGEMENT LLC, holding 2,045,600 shares of the stock with an approximate value of $68.16 million in LAZR stocks shares; and HOOD RIVER CAPITAL MANAGEMENT LLC, currently with $63.35 million in LAZR stock with ownership of nearly New of the company’s market capitalization.

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61 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 11,237,247 shares. Additionally, 43 investors decreased positions by around 18,668,552 shares, while 3 investors held positions by with 4,854,639 shares. The mentioned changes placed institutional holdings at 25,051,160 shares, according to the latest SEC report filing. LAZR stock had 48 new institutional investments in for a total of 7,236,318 shares, while 18 institutional investors sold positions of 10,338,211 shares during the same period.

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