Market Analysts see Luminar Technologies Inc. [LAZR] gaining to $38. Time to buy?

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Luminar Technologies Inc. [NASDAQ: LAZR] surged by $0.42 during the normal trading session on Wednesday and reaching a high of $16.69 during the day while it closed the day at $16.18. The company report on January 5, 2022 that Luminar and Volvo Cars Announce Plans for Next Generation SUV to be Revealed in 2022.

With Luminar as standard, Volvo cars’ forthcoming fully electric SUV will debut in California with Highway Autonomy capabilities.


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Luminar (Nasdaq: LAZR), the global leader in automotive lidar hardware and software technology, and Volvo Cars, the global automotive safety leader, revealed today at CES in Las Vegas the launch plans for the all electric next generation SUV. The event also marked the North American debut of the automaker’s Concept Recharge, a manifesto for Volvo Cars’ future, with Luminar’s Iris lidar seamlessly integrated into the roofline.

Luminar Technologies Inc. stock has also loss -0.86% of its value over the past 7 days. However, LAZR stock has inclined by 1.25% in the 3 months of the year. Over the past six months meanwhile, it has lost -12.49% and lost -4.32% year-on date.

The market cap for LAZR stock reached $5.69 billion, with 352.12 million shares outstanding and 233.45 million shares in the current float. Compared to the average trading volume of 5.93M shares, LAZR reached a trading volume of 4336136 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 1.07, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 258.82. The Price to Book ratio for the last quarter was 10.58, with the Price to Cash per share for the same quarter was set at 1.55.

LAZR stock trade performance evaluation

Luminar Technologies Inc. [LAZR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.86. With this latest performance, LAZR shares gained by 10.29% in over the last four-week period, additionally sinking by -12.49% over the last 6 months – not to mention a drop of -51.44% 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 48.47, with the RSI for the last a single of trading hit 48.60, and the three-weeks RSI is set at 48.49 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 17.04, while it was recorded at 15.68 for the last single week of trading, and 18.69 for the last 200 days.

Luminar Technologies Inc. [LAZR]: An insightful look at the core fundamentals

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.

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Luminar Technologies Inc. [LAZR]: Insider Ownership positions

There are presently around $1,091 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 $89.75 million in LAZR stocks shares; and VANTAGE INVESTMENT PARTNERS, LLC, currently with $76.04 million in LAZR stock with ownership of nearly New of the company’s market capitalization.

Positions in Luminar Technologies Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 123 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 17,761,968 shares. Additionally, 75 investors decreased positions by around 7,953,636 shares, while 38 investors held positions by with 41,744,059 shares. The mentioned changes placed institutional holdings at 67,459,663 shares, according to the latest SEC report filing. LAZR stock had 48 new institutional investments in for a total of 6,724,943 shares, while 36 institutional investors sold positions of 5,689,008 shares during the same period.