Market Analysts see Luminar Technologies Inc. [LAZR] gaining to $38. Time to buy?

Luminar Technologies Inc. [NASDAQ: LAZR] traded at a high on 01/20/21, posting a 8.44 gain after which it closed the day’ session at $32.37. 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.

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.

The results of the trading session contributed to over 14335130 shares changing hands. Over the past one week, the price volatility of Luminar Technologies Inc. stands at 9.67% while the volatility over the past one month is 10.57%.

The market cap for LAZR stock reached $11.11 billion, with 218.82 million shares outstanding and 177.19 million shares in the current float. Compared to the average trading volume of 11.20M shares, LAZR reached a trading volume of 14335130 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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.

R. F. Lafferty have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 14, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on January 06, 2021, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $30, while Robert W. Baird analysts kept a Neutral rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 3.55, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 641.77. The Price to Book ratio for the last quarter was 4.16, 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 111142.39 with Quick ratio for the last quarter at 0.20.

How has LAZR stock performed recently?

Luminar Technologies Inc. [LAZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.86. With this latest performance, LAZR shares gained by 28.86% in over the last four-week period, additionally plugging by 193.74% over the last 6 months – not to mention a rise of 219.86% 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 54.90, with the RSI for the last a single of trading hit 53.70, and the three-weeks RSI is set at 56.26 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 24.82, while it was recorded at 31.69 for the last single week of trading, and 14.23 for the last 200 days.

Luminar Technologies Inc. [LAZR]: Deeper insight into the 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.

Insider trade positions for Luminar Technologies Inc. [LAZR]

There are presently around $734 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 $61.06 million in LAZR stocks shares; and HOOD RIVER CAPITAL MANAGEMENT LLC, currently with $56.76 million in LAZR stock with ownership of nearly New of the company’s market capitalization.

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63 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 11,029,531 shares. Additionally, 44 investors decreased positions by around 19,096,219 shares, while 3 investors held positions by with 5,549,632 shares. The mentioned changes placed institutional holdings at 24,576,118 shares, according to the latest SEC report filing. LAZR stock had 51 new institutional investments in for a total of 7,238,945 shares, while 20 institutional investors sold positions of 10,815,880 shares during the same period.

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