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

Luminar Technologies Inc. [NASDAQ: LAZR] traded at a high on 02/19/21, posting a 2.59 gain after which it closed the day’ session at $33.69. The company report on February 12, 2021 that Luminar Strengthens Board of Directors with Two New Leaders.

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Katharine A. Martin and Dr. Mary Lou Jepsen will help drive Luminar towards its vision of making autonomy safe and ubiquitous.

Luminar Technologies, Inc. (“Luminar” or “the Company”) (Nasdaq: LAZR), the global leader in automotive lidar hardware and software technology, announced that it has appointed to its Board Katharine “Katie” A. Martin, Chair of the Board of Wilson Sonsini Goodrich & Rosati, and Dr. Mary Lou Jepsen, a technology industry executive who is currently the CEO, Founder and Chair of the Board of medical laser imaging device company Openwater as well as Director at Lear Corporation.

The results of the trading session contributed to over 8998678 shares changing hands. Over the past one week, the price volatility of Luminar Technologies Inc. stands at 9.17% while the volatility over the past one month is 9.54%.

The market cap for LAZR stock reached $10.64 billion, with 218.82 million shares outstanding and 176.28 million shares in the current float. Compared to the average trading volume of 14.05M shares, LAZR reached a trading volume of 8998678 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 $36.60 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 2.20. 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.

Northland Capital have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 26, 2021. While these analysts kept the previous recommendation, R. F. Lafferty raised their target price to Buy. The new note on the price target was released on January 14, 2021, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $40, while Citigroup analysts kept a Buy rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 3.07, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 614.27. The Price to Book ratio for the last quarter was 4.33, 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 106379.54 with Quick ratio for the last quarter at 0.20.

How has LAZR stock performed recently?

Luminar Technologies Inc. [LAZR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.26. With this latest performance, LAZR shares gained by 4.08% in over the last four-week period, additionally plugging by 225.51% over the last 6 months – not to mention a rise of 218.13% 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 51.20, with the RSI for the last a single of trading hit 48.74, and the three-weeks RSI is set at 53.10 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 32.78, while it was recorded at 34.77 for the last single week of trading, and 16.76 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 $510 million, or 8.10% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: CANVAS GP 1, L.L.C. with ownership of 6,907,353, which is approximately New of the company’s market cap and around 2.70% of the total institutional ownership; IDG CHINA VENTURE CAPITAL FUND IV ASSOCIATES L.P., holding 1,499,225 shares of the stock with an approximate value of $50.51 million in LAZR stocks shares; and ZEAL ASSET MANAGEMENT LTD, currently with $29.38 million in LAZR stock with ownership of nearly New of the company’s market capitalization.

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116 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 13,703,668 shares. Additionally, 67 investors decreased positions by around 23,575,208 shares, while 1 investors held positions by with 22,138,620 shares. The mentioned changes placed institutional holdings at 15,140,256 shares, according to the latest SEC report filing. LAZR stock had 98 new institutional investments in for a total of 12,498,501 shares, while 52 institutional investors sold positions of 22,077,988 shares during the same period.

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