Luminar Technologies Inc. [NASDAQ: LAZR] jumped around 1.07 points on Monday, while shares priced at $17.98 at the close of the session, up 6.33%. The company report on December 23, 2021 that Luminar Transaction Upsized and Closed at $625 Million; Stock Buyback Plan Increased to Over $300 Million.
Net Cash to Accelerate Growth and Expansion from Major Commercial Wins.
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Luminar Technologies, Inc. (Nasdaq: LAZR) today announced the successful execution of its previously announced transaction, with the intent to purchase shares and accelerate growth. The deal was oversubscribed based on positive institutional investor support, and upsized to a total of $625 million in gross proceeds. Luminar expects to use over $300 million of the proceeds for LAZR share purchases, while the remaining capital will bolster Luminar’s balance sheet.
Luminar Technologies Inc. stock is now 6.33% up from its year-to-date (YTD) trading value. LAZR Stock saw the intraday high of $18.10 and lowest of $16.855 per share. The company’s 52-week high price is 40.98, which means current price is +6.67% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 5.59M shares, LAZR reached a trading volume of 5199227 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 $28.00 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.
Northland Capital have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 28, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on December 22, 2021, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $22, while Cowen analysts kept a Outperform rating on LAZR stock. On June 25, 2021, analysts increased their price target for LAZR shares from 22 to 30.
The Average True Range (ATR) for Luminar Technologies Inc. is set at 1.03, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 282.96. The Price to Book ratio for the last quarter was 11.75, with the Price to Cash per share for the same quarter was set at 1.57.
How has LAZR stock performed recently?
Luminar Technologies Inc. [LAZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.07. With this latest performance, LAZR shares gained by 14.38% in over the last four-week period, additionally sinking by -13.01% over the last 6 months – not to mention a drop of -42.63% 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 58.46, with the RSI for the last a single of trading hit 63.04, and the three-weeks RSI is set at 55.70 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 17.07, while it was recorded at 17.16 for the last single week of trading, and 19.03 for the last 200 days.
Luminar Technologies Inc. [LAZR]: Deeper insight into the 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 17.20 and a Current Ratio set at 17.40.
Insider trade positions for Luminar Technologies Inc. [LAZR]
There are presently around $1,139 million, or 34.60% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 18,054,606, which is approximately 2.041% of the company’s market cap and around 1.20% of the total institutional ownership; MACQUARIE GROUP LTD, holding 5,546,897 shares of the stock with an approximate value of $93.8 million in LAZR stocks shares; and VANTAGE INVESTMENT PARTNERS, LLC, currently with $79.47 million in LAZR stock with ownership of nearly New of the company’s market capitalization.
119 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 17,680,466 shares. Additionally, 76 investors decreased positions by around 7,963,636 shares, while 38 investors held positions by with 41,731,154 shares. The mentioned changes placed institutional holdings at 67,375,256 shares, according to the latest SEC report filing. LAZR stock had 44 new institutional investments in for a total of 6,640,761 shares, while 37 institutional investors sold positions of 5,699,008 shares during the same period.