For Luminar Technologies Inc. [LAZR], Analyst sees a rise to $23. What next?

Luminar Technologies Inc. [NASDAQ: LAZR] price plunged by -0.98 percent to reach at -$0.21. 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.

A sum of 11811332 shares traded at recent session while its average daily volume was at 5.56M shares. Luminar Technologies Inc. shares reached a high of $23.498 and dropped to a low of $21.00 until finishing in the latest session at $21.20.

The one-year LAZR stock forecast points to a potential upside of 28.31. The average equity rating for LAZR stock is currently 2.30, trading closer to a bullish pattern in the stock market.

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 $29.57 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 2.13, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 403.80. The Price to Book ratio for the last quarter was 12.47, with the Price to Cash per share for the same quarter was set at 1.66.

LAZR Stock Performance Analysis:

Luminar Technologies Inc. [LAZR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.16. With this latest performance, LAZR shares dropped by -4.42% in over the last four-week period, additionally plugging by 100.00% over the last 6 months – not to mention a rise of 106.83% 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 48.48, with the RSI for the last a single of trading hit 48.95, and the three-weeks RSI is set at 47.69 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 22.70, while it was recorded at 21.76 for the last single week of trading, and 20.99 for the last 200 days.

Insight into Luminar Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Luminar Technologies Inc. [LAZR] shares currently have an operating margin of -680.06 and a Gross Margin at -78.85. Luminar Technologies Inc.’s Net Margin is presently recorded at -2596.93.

Return on Total Capital for LAZR is now -34.98, given the latest momentum, and Return on Invested Capital for the company is -133.66. Return on Equity for this stock declined to -133.86, with Return on Assets sitting at -78.91. When it comes to the capital structure of this company, Luminar Technologies Inc. [LAZR] has a Total Debt to Total Equity ratio set at 0.79. Additionally, LAZR Total Debt to Total Capital is recorded at 0.78, with Total Debt to Total Assets ending up at 0.23. Long-Term Debt to Equity for the company is recorded at 0.53, with the Long-Term Debt to Total Capital now at 0.53.

Reflecting on the efficiency of the workforce at the company, Luminar Technologies Inc. [LAZR] managed to generate an average of -$973,919 per employee. Receivables Turnover for the company is 3.39 with a Total Asset Turnover recorded at a value of 0.03.Luminar Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 29.40 and a Current Ratio set at 29.60.

Luminar Technologies Inc. [LAZR] Insider Position Details

There are presently around $807 million, or 22.20% 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 $146.44 million in LAZR stocks shares; and BLACKROCK INC., currently with $70.48 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 111 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 35,156,869 shares. Additionally, 76 investors decreased positions by around 4,066,818 shares, while 20 investors held positions by with 1,176,962 shares. The mentioned changes placed institutional holdings at 38,046,725 shares, according to the latest SEC report filing. LAZR stock had 67 new institutional investments in for a total of 32,157,542 shares, while 47 institutional investors sold positions of 3,112,401 shares during the same period.

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