Luminar Technologies Inc. [LAZR] fell -53.22% so far this year. What now?

Luminar Technologies Inc. [NASDAQ: LAZR] gained 5.19% on the last trading session, reaching $7.91 price per share at the time. The company report on August 8, 2022 that Luminar Provides Q2 Update; Raises Guidance.

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Increasing Growth Rate for Major Commercial Program Wins and Order Book; Raising Revenue Guidance.

Luminar (NASDAQ: LAZR), a leading global automotive technology company, announced its quarterly business update and financial results for the second quarter of 2022, ended June 30, 2022. The company reported $9.9 million of Q2 revenue, ahead of company expectations and up 57% YoY.

Luminar Technologies Inc. represents 348.68 million in outstanding shares, while the company has a total market value of $2.79 billion with the latest information. LAZR stock price has been found in the range of $7.58 to $8.125.

If compared to the average trading volume of 6.40M shares, LAZR reached a trading volume of 7735029 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $15.80 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.

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 0.52, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 83.17. The Price to Book ratio for the last quarter was 21.97, with the Price to Cash per share for the same quarter was set at 2.01.

Trading performance analysis for LAZR stock

Luminar Technologies Inc. [LAZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.40. With this latest performance, LAZR shares gained by 19.31% in over the last four-week period, additionally sinking by -46.55% over the last 6 months – not to mention a drop of -56.25% 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 60.73, with the RSI for the last a single of trading hit 68.72, and the three-weeks RSI is set at 54.70 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 7.39, while it was recorded at 7.52 for the last single week of trading, and 12.94 for the last 200 days.

Luminar Technologies Inc. [LAZR]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Luminar Technologies Inc. [LAZR]

There are presently around $830 million, or 47.30% 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 $83.84 million in LAZR stocks shares; and MACQUARIE GROUP LTD, currently with $45.94 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 116 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 19,083,070 shares. Additionally, 104 investors decreased positions by around 8,280,327 shares, while 53 investors held positions by with 77,593,034 shares. The mentioned changes placed institutional holdings at 104,956,431 shares, according to the latest SEC report filing. LAZR stock had 42 new institutional investments in for a total of 8,263,867 shares, while 48 institutional investors sold positions of 2,944,469 shares during the same period.


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