Luminar Technologies Inc. [NASDAQ: LAZR] stock went on a downward path that fall over -9.05% on Monday, amounting to a one-week price decrease of less than -21.88%. 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.
Over the last 12 months, LAZR stock dropped by -45.04%. The one-year Luminar Technologies Inc. stock forecast points to a potential upside of 37.48. The average equity rating for LAZR stock is currently 2.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.32 billion, with 352.06 million shares outstanding and 225.55 million shares in the current float. Compared to the average trading volume of 6.60M shares, LAZR stock reached a trading volume of 6095390 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 $13.82 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 0.68, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 89.49. The Price to Book ratio for the last quarter was 34.56, with the Price to Cash per share for the same quarter was set at 1.58.
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 -21.88. With this latest performance, LAZR shares gained by 31.51% in over the last four-week period, additionally sinking by -43.16% over the last 6 months – not to mention a drop of -45.04% 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 50.60, with the RSI for the last a single of trading hit 44.81, and the three-weeks RSI is set at 51.56 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 7.43, while it was recorded at 9.90 for the last single week of trading, and 12.62 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 11.40 and a Current Ratio set at 11.60.
Luminar Technologies Inc. [LAZR] Insider Position Details
There are presently around $1,113 million, or 55.80% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 18,809,097, which is approximately -2.13% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 16,360,867 shares of the stock with an approximate value of $141.36 million in LAZR stocks shares; and G2VP I ASSOCIATES, LLC, currently with $91.57 million in LAZR stock with ownership of nearly 0% 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 133 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 33,850,650 shares. Additionally, 95 investors decreased positions by around 10,822,927 shares, while 58 investors held positions by with 84,134,117 shares. The mentioned changes placed institutional holdings at 128,807,694 shares, according to the latest SEC report filing. LAZR stock had 56 new institutional investments in for a total of 7,491,046 shares, while 46 institutional investors sold positions of 3,519,287 shares during the same period.