Luminar Technologies Inc. [NASDAQ: LAZR] stock went on a downward path that fall over -14.55% on Tuesday, amounting to a one-week price decrease of less than -22.60%. The company report on December 22, 2022 that Luminar Announces Luminar Day on February 28.
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Plans Year-End Milestones Unveiling at CES Press Conference.
Luminar (Nasdaq: LAZR), a leading global automotive technology company, today announced it will host Luminar Day on February 28, 2023 at its headquarters for investors, consumers, customers and suppliers. At the event, Luminar will unveil its long-term product and technology roadmap for existing and new OEM customers. The company also expects to detail its near-term and long-term financial plan among other news and updates, including its full-year 2022 financials.
Over the last 12 months, LAZR stock dropped by -72.77%. The one-year Luminar Technologies Inc. stock forecast points to a potential upside of 63.0. 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 $1.76 billion, with 359.75 million shares outstanding and 229.30 million shares in the current float. Compared to the average trading volume of 5.98M shares, LAZR stock reached a trading volume of 8670331 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 $13.08 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.
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 0.52, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 41.95. The Price to Book ratio for the last quarter was 40.37, with the Price to Cash per share for the same quarter was set at 1.52.
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 -22.60. With this latest performance, LAZR shares dropped by -36.91% in over the last four-week period, additionally sinking by -28.12% over the last 6 months – not to mention a drop of -72.77% 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 24.05, with the RSI for the last a single of trading hit 14.93, and the three-weeks RSI is set at 30.65 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 7.35, while it was recorded at 5.66 for the last single week of trading, and 9.07 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 9.70 and a Current Ratio set at 9.90.
Luminar Technologies Inc. [LAZR] Insider Position Details
There are presently around $656 million, or 56.40% 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 1.30% of the total institutional ownership; BLACKROCK INC., holding 16,538,918 shares of the stock with an approximate value of $80.13 million in LAZR stocks shares; and G2VP I ASSOCIATES, LLC, currently with $51.35 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 134 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 15,871,028 shares. Additionally, 89 investors decreased positions by around 10,659,749 shares, while 65 investors held positions by with 108,831,877 shares. The mentioned changes placed institutional holdings at 135,362,654 shares, according to the latest SEC report filing. LAZR stock had 51 new institutional investments in for a total of 3,763,359 shares, while 38 institutional investors sold positions of 3,085,956 shares during the same period.