Luminar Technologies Inc [NASDAQ: LAZR] stock went on an upward path that rose over 15.61% on Tuesday, amounting to a one-week price increase of more than 7.53%. The company report on February 1, 2024 at 9:00 AM that Luminar To Provide Quarterly Business Update on February 27, 2024.
Luminar (Nasdaq: LAZR), a leading global automotive technology company, today announced it will provide its quarterly business update, including full-year 2023 milestones and financials, following the close of the market on Tuesday, February 27, 2024.
Luminar will be continuing with its new format for its business update this quarter. At 4:00 p.m. EST (1:00 p.m. PST), the company will publish the results of its company-level 2023 milestones across industrialization, business, and technology advancements, as well as its fourth quarter and full year 2023 financials and 2024 outlook. At 5:00 p.m. EST (2:00 p.m. PST), Luminar Founder and CEO Austin Russell and CFO Tom Fennimore will host a webcast consisting of a live Q&A session.
Over the last 12 months, LAZR stock dropped by -60.84%. The one-year Luminar Technologies Inc stock forecast points to a potential upside of 60.99. The average equity rating for LAZR stock is currently 2.18, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.21 billion, with 270.08 million shares outstanding and 256.52 million shares in the current float. Compared to the average trading volume of 8.13M shares, LAZR stock reached a trading volume of 6040599 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 $7.69 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 2.18. 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.
Deutsche Bank have made an estimate for Luminar Technologies Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 17, 2024.
The Average True Range (ATR) for Luminar Technologies Inc is set at 0.25, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 20.51.
LAZR Stock Performance Analysis:
Luminar Technologies Inc [LAZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.53. With this latest performance, LAZR shares dropped by -8.26% in over the last four-week period, additionally sinking by -55.56% over the last 6 months – not to mention a drop of -60.84% 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 54.13, with the RSI for the last a single of trading hit 57.27, and the three-weeks RSI is set at 51.95 for Luminar Technologies Inc [LAZR]. The present Moving Average for the last 50 days of trading for this stock 2.83, while it was recorded at 2.82 for the last single week of trading, and 4.88 for the last 200 days.
Insight into Luminar Technologies Inc Fundamentals:
Luminar Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.32 and a Current Ratio set at 4.54.
LAZR Stock EPS
With the latest financial reports released by the company, Luminar Technologies Inc posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -23.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LAZR.
Luminar Technologies Inc [LAZR] Institutonal Ownership Details
The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in LAZR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in LAZR stock with ownership which is approximately 5.8325%.
