Luminar Technologies Inc. [NASDAQ: LAZR] loss -7.46% or -0.68 points to close at $8.43 with a heavy trading volume of 12153334 shares. The company report on February 28, 2023 that Luminar Provides Business Update with Q4 and Full-Year 2022 Financials.
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Providing Guidance for Near-term and Long-term Profitability;Exponential Revenue Acceleration Anticipated with Triple-Digit Percentage Growth for Coming Years.
Luminar (NASDAQ: LAZR), a leading global automotive technology company, announced at Luminar Day its quarterly business update and financial results for the fourth quarter and full year of 2022, ended December 31, 2022. The company is also providing insight into its long-term forecast and guidance, which is being webcast live at www.luminartech.com/day.
It opened the trading session at $9.07, the shares rose to $9.30 and dropped to $8.36, the range by which the price of stock traded the whole day. The daily chart for LAZR points out that the company has recorded -3.66% loss over the past six months. However, it is still -115.6% lower than its most recent low trading price.
If we look at the average trading volume of 12.36M shares, LAZR reached to a volume of 12153334 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $12.82 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.
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 0.83, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 82.65.
Trading performance analysis for LAZR stock
Luminar Technologies Inc. [LAZR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.76. With this latest performance, LAZR shares gained by 25.26% in over the last four-week period, additionally sinking by -3.66% over the last 6 months – not to mention a drop of -36.47% 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 53.72, with the RSI for the last a single of trading hit 49.36, and the three-weeks RSI is set at 54.92 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 6.77, while it was recorded at 9.24 for the last single week of trading, and 7.53 for the last 200 days.
Luminar Technologies Inc. [LAZR]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Luminar Technologies Inc. [LAZR] shares currently have an operating margin of -1087.04 and a Gross Margin at -152.06. Luminar Technologies Inc.’s Net Margin is presently recorded at -1095.73.
Return on Equity for this stock declined to -519.80, with Return on Assets sitting at -56.78.
Luminar Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.00 and a Current Ratio set at 7.20.
An analysis of insider ownership at Luminar Technologies Inc. [LAZR]
There are presently around $1,132 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 $150.17 million in LAZR stocks shares; and G2VP I ASSOCIATES, LLC, currently with $89.35 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 Tuesday and at the time of the Tuesday reporting period, where 138 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 18,248,591 shares. Additionally, 88 investors decreased positions by around 13,585,935 shares, while 65 investors held positions by with 102,420,889 shares. The mentioned changes placed institutional holdings at 134,255,415 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.