Rosenblatt lifts Luminar Technologies Inc. [LAZR] price estimate. Who else is bullish?

Luminar Technologies Inc. [NASDAQ: LAZR] jumped around 0.89 points on Friday, while shares priced at $8.35 at the close of the session, up 11.93%. The company report on February 22, 2023 that Luminar and Mercedes-Benz Announce Broad Deal Across Next-Generation Production Vehicle Lines.

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Expanding partnership and volumes by more than an order of magnitude to a broad range of consumer vehicles.

Luminar (Nasdaq: LAZR), a leading global automotive technology company, announced today a sweeping expansion of its partnership with Mercedes-Benz to safely enable enhanced automated driving capabilities across a broad range of next-generation production vehicle lines as part of the automaker’s next-generation lineup. Luminar’s Iris entered its first series production in October 2022 and the company’s Mercedes-Benz program has successfully completed the initial phase and the associated milestones.

Luminar Technologies Inc. stock is now 68.69% up from its year-to-date (YTD) trading value. LAZR Stock saw the intraday high of $8.37 and lowest of $6.99 per share. The company’s 52-week high price is 16.62, which means current price is +113.56% above from all time high which was touched on 02/24/23.

Compared to the average trading volume of 9.27M shares, LAZR reached a trading volume of 35795382 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 $12.64 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 0.77, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 64.59. The Price to Book ratio for the last quarter was 69.58, with the Price to Cash per share for the same quarter was set at 1.71.

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 25.94. With this latest performance, LAZR shares gained by 35.11% in over the last four-week period, additionally sinking by -6.29% over the last 6 months – not to mention a drop of -36.93% 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 63.96, with the RSI for the last a single of trading hit 67.97, and the three-weeks RSI is set at 60.93 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 6.19, while it was recorded at 7.14 for the last single week of trading, and 7.56 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 $1,121 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 21,618,862, which is approximately 9.896% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 17,814,187 shares of the stock with an approximate value of $148.75 million in LAZR stocks shares; and G2VP I ASSOCIATES, LLC, currently with $88.5 million in LAZR stock with ownership of nearly 0% of the company’s market capitalization.

138 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 18,293,121 shares. Additionally, 88 investors decreased positions by around 13,585,935 shares, while 65 investors held positions by with 102,355,949 shares. The mentioned changes placed institutional holdings at 134,235,005 shares, according to the latest SEC report filing. LAZR stock had 50 new institutional investments in for a total of 5,162,688 shares, while 32 institutional investors sold positions of 4,561,943 shares during the same period.


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