Luminar Technologies Inc. [LAZR] Stock trading around $20.12 per share: What’s Next?


Luminar Technologies Inc. [NASDAQ: LAZR] stock went on an upward path that rose over 14.97% on Tuesday, amounting to a one-week price increase of more than 16.50%. The company report on November 9, 2021 that Luminar Lidar Selected for NVIDIA DRIVE Hyperion Autonomous Vehicle Reference Platform.

Long-range lidar solution part of best-in-class sensor suite to help deliver safe, highly assisted and full self-driving capabilities.

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Luminar Technologies, Inc., the global leader in automotive lidar hardware and software technology, announced at the NVIDIA GTC conference that its lidar solution has been selected to be part of the sensor suite in the NVIDIA DRIVE Hyperion autonomous vehicle reference platform. This AI vehicle computing platform accelerates development of autonomous consumer vehicles with planned production starting in 2024.

Over the last 12 months, LAZR stock rose by 98.03%. The one-year Luminar Technologies Inc. stock forecast points to a potential upside of 29.7. The average equity rating for LAZR stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.89 billion, with 340.25 million shares outstanding and 205.34 million shares in the current float. Compared to the average trading volume of 2.90M shares, LAZR stock reached a trading volume of 71995751 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $28.62 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 2.10. 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.

Robert W. Baird have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 25, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on May 25, 2021, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $23, while BofA Securities analysts kept a Neutral rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 1.25, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 376.47. The Price to Book ratio for the last quarter was 12.50, with the Price to Cash per share for the same quarter was set at 1.70.

LAZR Stock Performance Analysis:

Luminar Technologies Inc. [LAZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.50. With this latest performance, LAZR shares gained by 34.31% in over the last four-week period, additionally plugging by 1.05% over the last 6 months – not to mention a rise of 98.03% 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 74.31, with the RSI for the last a single of trading hit 80.49, and the three-weeks RSI is set at 68.56 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 16.42, while it was recorded at 17.75 for the last single week of trading, and 21.44 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 24.60 and a Current Ratio set at 24.80.

Luminar Technologies Inc. [LAZR] Insider Position Details

There are presently around $1,240 million, or 35.10% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 17,693,527, which is approximately 18.393% of the company’s market cap and around 0.90% of the total institutional ownership; CANVAS GP 1, L.L.C., holding 6,907,353 shares of the stock with an approximate value of $120.88 million in LAZR stocks shares; and VANTAGE INVESTMENT PARTNERS, LLC, currently with $82.25 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 November and at the time of the November reporting period, where 135 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 37,301,435 shares. Additionally, 67 investors decreased positions by around 2,114,666 shares, while 31 investors held positions by with 31,464,603 shares. The mentioned changes placed institutional holdings at 70,880,704 shares, according to the latest SEC report filing. LAZR stock had 68 new institutional investments in for a total of 25,773,840 shares, while 37 institutional investors sold positions of 621,867 shares during the same period.