Market Analysts see Luminar Technologies Inc. [LAZR] gaining to $8. Time to buy?

Luminar Technologies Inc. [NASDAQ: LAZR] traded at a low on 11/21/22, posting a -5.34 loss after which it closed the day’ session at $7.45. The company report on November 9, 2022 that Luminar CEO Says Volvo EX90 Defines a New Era of Safety.

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“For the first time, a global production vehicle integrates high-performance lidar and software to enable next generation smart and safe cars that set a new bar for the industry”.

Today Luminar (Nasdaq: LAZR) joined Volvo Cars to unveil the new, all-electric Volvo EX90 which will come standard with Luminar’s technology on each vehicle produced to enable advanced safety and autonomous capabilities on highways in the future. Luminar CEO Austin Russell shared his thoughts on the significance of this moment and how Luminar will scale its production globally with Volvo Cars next year.

The results of the trading session contributed to over 5910565 shares changing hands. Over the past one week, the price volatility of Luminar Technologies Inc. stands at 6.49% while the volatility over the past one month is 8.82%.

The market cap for LAZR stock reached $2.80 billion, with 359.75 million shares outstanding and 229.28 million shares in the current float. Compared to the average trading volume of 6.19M shares, LAZR reached a trading volume of 5910565 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 $14.00 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.

Rosenblatt have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 25, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on September 28, 2022, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another drop from $13 to $10, while Northland Capital kept a Market Perform rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 0.71, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 66.88. The Price to Book ratio for the last quarter was 62.08, with the Price to Cash per share for the same quarter was set at 1.47.

How has LAZR stock performed recently?

Luminar Technologies Inc. [LAZR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.83. With this latest performance, LAZR shares gained by 3.91% in over the last four-week period, additionally sinking by -22.40% over the last 6 months – not to mention a drop of -61.14% 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 46.32, with the RSI for the last a single of trading hit 43.36, and the three-weeks RSI is set at 47.37 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 7.82, while it was recorded at 8.18 for the last single week of trading, and 9.97 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 9.70 and a Current Ratio set at 9.90.

Insider trade positions for Luminar Technologies Inc. [LAZR]

There are presently around $1,008 million, or 56.60% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 19,672,111, which is approximately 4.588% of the company’s market cap and around 1.40% of the total institutional ownership; BLACKROCK INC., holding 16,538,918 shares of the stock with an approximate value of $123.22 million in LAZR stocks shares; and G2VP I ASSOCIATES, LLC, currently with $78.96 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 November and at the time of the November reporting period, where 131 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 15,759,564 shares. Additionally, 91 investors decreased positions by around 10,671,497 shares, while 65 investors held positions by with 108,820,129 shares. The mentioned changes placed institutional holdings at 135,251,190 shares, according to the latest SEC report filing. LAZR stock had 48 new institutional investments in for a total of 3,651,895 shares, while 40 institutional investors sold positions of 3,097,704 shares during the same period.


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