Luminar Technologies Inc [NASDAQ: LAZR] loss -5.51% on the last trading session, reaching $2.40 price per share at the time. The company report on February 14, 2024 at 2:39 PM that Announcing Luminar Day: A New Era on April 23, 2024.
Luminar (Nasdaq: LAZR), a leading global automotive technology company, announced today it will host a Luminar Day event on April 23, 2024 for its broader community, including customers, investors, suppliers, regulators, and media. The event will be held virtually, spanning from the factory in Monterrey, Mexico to its AI and software center in Silicon Valley.
In this pivotal moment for the industry, the Luminar Day event will cover Luminar’s Start of Production (SOP) for Volvo Cars, kicking off the first global production vehicle launch with this technology. Volvo’s next-generation vehicle lineup will begin with the EX90, where Luminar is set to be standard worldwide.
If compared to the average trading volume of 7.75M shares, LAZR reached a trading volume of 6088145 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 $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. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on September 26, 2023, representing the official price target for Luminar Technologies Inc stock. Previously, the target price had yet another drop from $12 to $10, while TD Cowen kept a Outperform rating on LAZR stock.
The Average True Range (ATR) for Luminar Technologies Inc is set at 0.22, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 16.41.
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 -5.14. With this latest performance, LAZR shares gained by 2.13% in over the last four-week period, additionally sinking by -58.69% over the last 6 months – not to mention a drop of -64.50% 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 40.87, with the RSI for the last a single of trading hit 36.58, and the three-weeks RSI is set at 42.85 for Luminar Technologies Inc [LAZR]. The present Moving Average for the last 50 days of trading for this stock 2.86, while it was recorded at 2.56 for the last single week of trading, and 4.73 for the last 200 days.
Luminar Technologies Inc [LAZR]: A deeper dive into fundamental analysis
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.
Luminar Technologies Inc [LAZR]: An earnings per share (EPS) analysis
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.
An analysis of Institutional ownership at Luminar Technologies Inc [LAZR]
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%.
