Luminar Technologies Inc. [LAZR] Stock trading around $5.79 per share: What’s Next?

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Luminar Technologies Inc. [NASDAQ: LAZR] price plunged by -12.67 percent to reach at -$0.84. The company report on June 27, 2022 that Luminar Joins Russell 2000® Index.


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For the first time, Luminar (Nasdaq: LAZR), a leading global automotive technology company, officially joined the US Russell 2000® Index, effective today. Luminar is positioned towards the top end of this index, increasing the relative index purchasing power and ownership. Approximately 30 million shares of Luminar’s stock are now anticipated to be purchased and held by associated indices.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

A sum of 5940626 shares traded at recent session while its average daily volume was at 6.34M shares. Luminar Technologies Inc. shares reached a high of $6.58 and dropped to a low of $5.78 until finishing in the latest session at $5.79.

The one-year LAZR stock forecast points to a potential upside of 67.38. The average equity rating for LAZR stock is currently 2.20, trading closer to a bullish pattern in the stock market.

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 $17.75 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 0.61, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 58.64. The Price to Book ratio for the last quarter was 16.08, with the Price to Cash per share for the same quarter was set at 2.08.

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 -4.14. With this latest performance, LAZR shares dropped by -40.12% in over the last four-week period, additionally sinking by -62.26% over the last 6 months – not to mention a drop of -71.27% 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 32.54, with the RSI for the last a single of trading hit 32.58, and the three-weeks RSI is set at 33.49 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 8.89, while it was recorded at 6.12 for the last single week of trading, and 13.85 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 $613 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 0.90% of the total institutional ownership; G2VP I ASSOCIATES, LLC, holding 10,598,865 shares of the stock with an approximate value of $61.37 million in LAZR stocks shares; and MACQUARIE GROUP LTD, currently with $33.63 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 August and at the time of the August reporting period, where 128 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 21,048,386 shares. Additionally, 91 investors decreased positions by around 10,913,022 shares, while 52 investors held positions by with 73,997,137 shares. The mentioned changes placed institutional holdings at 105,958,545 shares, according to the latest SEC report filing. LAZR stock had 41 new institutional investments in for a total of 10,749,775 shares, while 42 institutional investors sold positions of 2,390,222 shares during the same period.

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