Saturday, April 10, 2021

Luminar Technologies Inc. [LAZR] Revenue clocked in at $17.32 million, down -33.74% YTD: What’s Next?

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Luminar Technologies Inc. [NASDAQ: LAZR] slipped around -2.47 points on Wednesday, while shares priced at $22.53 at the close of the session, down -9.88%. The company report on March 30, 2021 that Canvas Ventures Closes Third Fund at $350 Million to Offer Visionary Founders Early-Stage Capital and Go-To-Market Expertise Proven to Accelerate Growth.

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With previous investments including Luminar, Transfix, Zola, and Vida Health, Canvas leads Series A investments and leverages partners’ deep operational experience to unlock breakout growth and follow-on capital.

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Canvas Ventures, the boutique firm for visionary builders, announced the close of CV3, a $350 million fund to lead early-stage B2B and B2C investments in fintech, digital health, marketplaces, and logistics. With decades of collective operational experience, the firm’s four general partners are known by founders as being their go-to champion and resource. Offering seasoned, hands-on guidance on go-to-market, sales, and growth strategies, Canvas consistently helps entrepreneurs identify and land their most valuable customers and raise follow-on capital. To support the growing portfolio and deployment of CV3, Canvas welcomed several new strategic hires on the investment and platform team. This new fund, which hit its hard cap and is double the size of its inaugural fund, CV1, brings the total raised to $835 million since Canvas was founded in 2013.

Luminar Technologies Inc. stock is now -33.74% down from its year-to-date (YTD) trading value. LAZR Stock saw the intraday high of $25.13 and lowest of $22.50 per share. The company’s 52-week high price is 47.80, which means current price is +14.95% above from all time high which was touched on 01/27/21.

Compared to the average trading volume of 6.85M shares, LAZR reached a trading volume of 4518964 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 $34.50 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.

Craig Hallum have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 19, 2021. The new note on the price target was released on March 12, 2021, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another drop from $41 to $38, while Northland Capital kept a Market Perform rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 2.31, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 419.36. The Price to Book ratio for the last quarter was 2.90, 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 72625.46 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 -4.61. With this latest performance, LAZR shares gained by 3.61% in over the last four-week period, additionally plugging by 109.00% over the last 6 months – not to mention a rise of 130.84% 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 38.04, with the RSI for the last a single of trading hit 34.06, and the three-weeks RSI is set at 40.76 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 29.08, while it was recorded at 24.27 for the last single week of trading, and 19.31 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.

Earnings analysis for Luminar Technologies Inc. [LAZR]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LAZR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Luminar Technologies Inc. go to 10.46%.

Insider trade positions for Luminar Technologies Inc. [LAZR]

There are presently around $346 million, or 13.30% 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 $33.78 million in LAZR stocks shares; and ZEAL ASSET MANAGEMENT LTD, currently with $19.65 million in LAZR stock with ownership of nearly New of the company’s market capitalization.

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123 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 13,889,743 shares. Additionally, 68 investors decreased positions by around 23,590,958 shares, while 1 investors held positions by with 22,142,279 shares. The mentioned changes placed institutional holdings at 15,338,422 shares, according to the latest SEC report filing. LAZR stock had 105 new institutional investments in for a total of 12,684,576 shares, while 52 institutional investors sold positions of 22,077,988 shares during the same period.

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