Luminar Technologies Inc. [NASDAQ: LAZR] traded at a high on 03/29/22, posting a 6.34 gain after which it closed the day’ session at $15.76. The company report on March 21, 2022 that Luminar Acquiring Freedom Photonics, Leader in High-Performance Laser Chips.
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Luminar Now Vertically Integrated Across Core Lidar Components.
Luminar (Nasdaq: LAZR), a leading global automotive technology company, today announced it is acquiring high-performance laser manufacturer Freedom Photonics. This transaction follows a multi-year collaboration and brings fundamental next-generation chip-scale laser technology, IP, and production expertise in-house for Luminar lidar systems.
The results of the trading session contributed to over 5490122 shares changing hands. Over the past one week, the price volatility of Luminar Technologies Inc. stands at 5.49% while the volatility over the past one month is 7.06%.
The market cap for LAZR stock reached $5.66 billion, with 359.63 million shares outstanding and 223.75 million shares in the current float. Compared to the average trading volume of 5.78M shares, LAZR reached a trading volume of 5490122 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 $23.91 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.
SMBC Nikko have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 29, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on February 01, 2022, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $20, while Jefferies analysts kept a Buy rating on LAZR stock.
The Average True Range (ATR) for Luminar Technologies Inc. is set at 0.99, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 177.36. The Price to Book ratio for the last quarter was 28.65, with the Price to Cash per share for the same quarter was set at 2.21.
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 6.92. With this latest performance, LAZR shares gained by 12.33% in over the last four-week period, additionally sinking by -2.84% over the last 6 months – not to mention a drop of -33.28% 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 60.30, with the RSI for the last a single of trading hit 67.09, and the three-weeks RSI is set at 56.28 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 14.27, while it was recorded at 14.93 for the last single week of trading, and 16.75 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 -704.52 and a Gross Margin at -44.29. Luminar Technologies Inc.’s Net Margin is presently recorded at -745.01.
Return on Equity for this stock declined to -137.28, with Return on Assets sitting at -34.15.
Luminar Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.40 and a Current Ratio set at 21.70.
Insider trade positions for Luminar Technologies Inc. [LAZR]
There are presently around $1,423 million, or 44.40% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 18,914,450, which is approximately 4.762% of the company’s market cap and around 0.90% of the total institutional ownership; G2VP I ASSOCIATES, LLC, holding 10,598,865 shares of the stock with an approximate value of $157.07 million in LAZR stocks shares; and NORTH STAR INVESTMENT MANAGEMENT CORP., currently with $89.48 million in LAZR stock with ownership of nearly 303.119% of the company’s market capitalization.
Positions in Luminar Technologies Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 145 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 27,171,486 shares. Additionally, 81 investors decreased positions by around 5,316,935 shares, while 36 investors held positions by with 63,537,051 shares. The mentioned changes placed institutional holdings at 96,025,472 shares, according to the latest SEC report filing. LAZR stock had 65 new institutional investments in for a total of 14,216,983 shares, while 32 institutional investors sold positions of 1,592,730 shares during the same period.