Luminar Technologies Inc. [LAZR] fell -31.88% so far this year. What now?

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Luminar Technologies Inc. [NASDAQ: LAZR] gained 10.23% on the last trading session, reaching $23.16 price per share at the time. The company report on May 14, 2021 that Luminar Launches With 2 New Series Production Manufacturing Partners; First Unit Rolls Off Line.

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Leading optics and electronics manufacturers Celestica and Fabrinet team up with Luminar on Iris.

, Luminar Technologies, Inc. (NASDAQ: LAZR), the global leader in automotive lidar hardware and software technology, announced that Celestica Inc. (NYSE, TSX: CLS), a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, and Fabrinet (NYSE:FN), a leading provider of advanced precision optical and electronic manufacturing services, have each partnered with Luminar to deliver Iris in series production. This complements Luminar’s in-house advanced manufacturing facility in Orlando, Florida, which engineers process and manufacturing technology and techniques to deploy into production with its manufacturing partners.

Luminar Technologies Inc. represents 145.10 million in outstanding shares, while the company has a total market value of $7.00 billion with the latest information. LAZR stock price has been found in the range of $19.88 to $23.20.

If compared to the average trading volume of 5.49M shares, LAZR reached a trading volume of 9260275 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $30.29 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 2.30. 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.

BofA Securities have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 20, 2021. While these analysts kept the previous recommendation, Craig Hallum raised their target price to Hold. The new note on the price target was released on March 19, 2021, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $38, while Northland Capital analysts kept a Outperform rating on LAZR stock. On January 26, 2021, analysts decreased their price target for LAZR shares from 41 to 38.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 2.07, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 362.72. The Price to Book ratio for the last quarter was 22.49, with the Price to Cash per share for the same quarter was set at 1.61. Price to Free Cash Flow for LAZR in the course of the last twelve months was 70005.73 with Quick ratio for the last quarter at 30.00.

Trading performance analysis for LAZR stock

Luminar Technologies Inc. [LAZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.06. With this latest performance, LAZR shares gained by 22.35% in over the last four-week period, additionally plugging by 127.06% over the last 6 months – not to mention a rise of 125.73% 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 54.68, with the RSI for the last a single of trading hit 59.05, and the three-weeks RSI is set at 51.84 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 22.92, while it was recorded at 21.90 for the last single week of trading, and 20.88 for the last 200 days.

Luminar Technologies Inc. [LAZR]: A deeper dive into fundamental analysis

Luminar Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 30.00 and a Current Ratio set at 30.20.

An analysis of insider ownership at Luminar Technologies Inc. [LAZR]

There are presently around $881 million, or 21.00% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 14,944,678, which is approximately New of the company’s market cap and around 2.50% of the total institutional ownership; CANVAS GP 1, L.L.C., holding 6,907,353 shares of the stock with an approximate value of $159.97 million in LAZR stocks shares; and BLACKROCK INC., currently with $76.99 million in LAZR stock with ownership of nearly New of the company’s market capitalization.

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Positions in Luminar Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 110 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 35,156,479 shares. Additionally, 75 investors decreased positions by around 4,066,564 shares, while 20 investors held positions by with 1,176,715 shares. The mentioned changes placed institutional holdings at 38,046,328 shares, according to the latest SEC report filing. LAZR stock had 67 new institutional investments in for a total of 32,157,164 shares, while 46 institutional investors sold positions of 3,112,147 shares during the same period.

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