Luminar Technologies Inc. [NASDAQ: LAZR] stock went on an upward path that rose over 3.26% on Wednesday, amounting to a one-week price decrease of less than -21.41%. The company report on May 31, 2022 that Tech Leaders: AIMLF, LAZR, UPST, NEXCF; Visionary CEOs Advancing Next Wave of Multi-Billion Dollar Growth Opportunities in Fintech, Wearables, Autonomous Driving and Web3.0.
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Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from CEOs of: Luminar Technologies (NASDAQ: LAZR), NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR), Upstart Holdings (NASDAQ: UPST), and AI/ML Innovations (OTC: AIMLF) (CSE: AIML). Today’s emerging technologies and lifestyle megatrends are creating billion dollar opportunities for disruptive innovation in how we live, work and play. Wall Street Reporter highlights the latest comments from industry thought leaders shaping our world today, and in the decades ahead:.
Upstart Holdings, Inc. (NASDAQ: UPST) CEO Dave Girouard: “AI is Transforming Credit”“…We’re in a multi-decade mission to put affordable credit within reach of every American. The price of credit is the price of opportunity and the price of mobility. And we want to ensure that opportunity and mobility are available to all Americans…2021 was a remarkable year for Upstart. We grew revenue from $233 million in 2020 to $849 million in 2021, while generating net income of $137 million. And with the fourth quarter surge, we’re now at more than $1 billion in revenue on an annualized basis… We now expect $1.5 billion in auto loan transactions on our platform in 2022… 2021 will be remembered as the year AI came to the forefront, kicking off the most impactful transformation of credit in decades…Upstart is now about the size that Google was when I joined that company in early 2004. So I’ve seen this movie before and hope to use what I learned there to build Upstart into the most impactful fintech in the world…”Upstart Holdings, Inc. (NASDAQ: UPST) Earnings Highlights: https://www.wallstreetreporter.com/2022/02/16/upstart-holdings-inc-nasdaq-upst-q4-2021-earnings-highlights/.
Over the last 12 months, LAZR stock dropped by -68.32%. The one-year Luminar Technologies Inc. stock forecast points to a potential upside of 60.0. The average equity rating for LAZR stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.99 billion, with 348.68 million shares outstanding and 230.61 million shares in the current float. Compared to the average trading volume of 4.98M shares, LAZR stock reached a trading volume of 4910864 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 $19.00 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 2.20. 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.
Credit Suisse have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 14, 2022. While these analysts kept the previous recommendation, SMBC Nikko raised their target price to Neutral. The new note on the price target was released on March 29, 2022, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $14, while Goldman analysts kept a Neutral rating on LAZR stock.
The Average True Range (ATR) for Luminar Technologies Inc. is set at 0.81, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 89.22. The Price to Book ratio for the last quarter was 21.11, with the Price to Cash per share for the same quarter was set at 1.80.
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 -21.41. With this latest performance, LAZR shares dropped by -23.92% in over the last four-week period, additionally sinking by -49.60% over the last 6 months – not to mention a drop of -68.32% 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 31.91, with the RSI for the last a single of trading hit 28.13, and the three-weeks RSI is set at 34.40 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 11.16, while it was recorded at 7.97 for the last single week of trading, and 14.66 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 -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 15.80 and a Current Ratio set at 16.10.
Luminar Technologies Inc. [LAZR] Insider Position Details
There are presently around $780 million, or 46.50% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 19,218,462, which is approximately 1.607% of the company’s market cap and around 1.00% of the total institutional ownership; G2VP I ASSOCIATES, LLC, holding 10,598,865 shares of the stock with an approximate value of $78.01 million in LAZR stocks shares; and MACQUARIE GROUP LTD, currently with $42.74 million in LAZR stock with ownership of nearly 0.246% of the company’s market capitalization.
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 131 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 21,168,766 shares. Additionally, 89 investors decreased positions by around 10,846,191 shares, while 53 investors held positions by with 74,019,767 shares. The mentioned changes placed institutional holdings at 106,034,724 shares, according to the latest SEC report filing. LAZR stock had 43 new institutional investments in for a total of 10,819,177 shares, while 42 institutional investors sold positions of 2,390,222 shares during the same period.