Luminar Technologies Inc. [LAZR] Stock trading around $9.53 per share: What’s Next?

Luminar Technologies Inc. [NASDAQ: LAZR] traded at a high on 09/20/22, posting a 4.61 gain after which it closed the day’ session at $9.53. 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.

The results of the trading session contributed to over 13869665 shares changing hands. Over the past one week, the price volatility of Luminar Technologies Inc. stands at 6.54% while the volatility over the past one month is 6.72%.

The market cap for LAZR stock reached $3.61 billion, with 352.06 million shares outstanding and 225.04 million shares in the current float. Compared to the average trading volume of 6.39M shares, LAZR reached a trading volume of 13869665 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 $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.

JP Morgan have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 20, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on April 14, 2022, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $16, while SMBC Nikko analysts kept a Neutral rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 0.65, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 97.28. The Price to Book ratio for the last quarter was 38.12, with the Price to Cash per share for the same quarter was set at 1.60.

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 8.05. With this latest performance, LAZR shares gained by 0.32% in over the last four-week period, additionally sinking by -32.41% over the last 6 months – not to mention a drop of -42.35% 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 57.46, with the RSI for the last a single of trading hit 59.60, and the three-weeks RSI is set at 56.02 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 8.20, while it was recorded at 9.18 for the last single week of trading, and 11.66 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 11.40 and a Current Ratio set at 11.60.

Insider trade positions for Luminar Technologies Inc. [LAZR]

There are presently around $1,228 million, or 56.00% 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 1.50% of the total institutional ownership; BLACKROCK INC., holding 16,360,867 shares of the stock with an approximate value of $155.92 million in LAZR stocks shares; and G2VP I ASSOCIATES, LLC, currently with $101.01 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 33,850,450 shares. Additionally, 93 investors decreased positions by around 10,810,947 shares, while 59 investors held positions by with 84,158,179 shares. The mentioned changes placed institutional holdings at 128,819,576 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 44 institutional investors sold positions of 3,507,307 shares during the same period.

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