Is Luminar Technologies Inc. (LAZR) Good For Your Portfolio?

Luminar Technologies Inc. (NASDAQ:LAZR) saw an upside of 3.94% to close Tuesday at $15.57 after adding $0.59 on the day. The 5-day average trading volume is 1,646,100 shares of the company’s common stock. It has gained $15.81 in the past week. An average of 2,474,560 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,999,314.

LAZR’s 1-month performance is -5.18% or -$0.93 on its low of $14.40 reached on 10/04/21. The company’s shares have touched a 52-week low of $9.95 and high of $47.80, with the stock’s rally to the 52-week high happening on 01/27/21. YTD, LAZR has lost -54.21% or -$18.43. However, the current price is down -67.43%% from the 52-week high price.

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Insider Transactions

On Jul 01, 104 days have gone by since the last insider trading activity for Luminar Technologies Inc. (LAZR). Russell Austin (Chairperson, President & CEO) most recently sold 10,500,000 shares at $21.00 per share on Jul 01. This transaction cost the insider $220,500,000.

Valuation Metrics

Luminar Technologies Inc. (LAZR) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 36.86 for the sector.LAZR stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 295.05 while the price-to-book (PB) in the most recent quarter is 9.67.

Luminar Technologies Inc.’s quick ratio for the period ended June 29 was 24.60, with the current ratio over the same period at 24.80 meaning that LAZR stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.00. In terms of profitability, the gross margin trailing 12 months is -59.50%. The trailing 12-month EBITDA margin is -662.02%. The firm’s gross profit as reported stood at -$11.0 million against revenue of $13.95 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Luminar Technologies Inc.’s cash and short-term investments amounted to $445.76 million against total debt of $13.76 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 100.0% to $6.31 million, while revenue of $5.31 million was 15.85% off the previous quarter. Analysts expected LAZR to announce -$0.07 per share in earnings in its latest quarter, but it posted -$0.11, representing a -57.10% surprise. EBITDA for the quarter stood at more than -$43.19 million. LAZR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 79.15 million, with total debt at $13.76 million. Shareholders hold equity totaling $342.21 million

Technical Picture

Let’s look briefly at Luminar Technologies Inc. (LAZR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 47.56% to suggest the stock is trending Neutral, with historical volatility in this time period at 39.76%.

The stock’s 5-day moving average is $15.12, reflecting a +2.50% or $0.38 change from its current price. LAZR is currently trading -6.65% above its 20-day SMA, -32.77% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -14.87% and -52.90% respectively.

Stochastic %K and %D was 22.12% and 19.43% and the average true range (ATR) pointed at 0.74. The RSI (14) points at 44.95%, while the 14-day stochastic is at 33.32% with the period’s ATR at 0.76. The stock’s 9-day MACD Oscillator is pointing at 0.00 and -0.54 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Luminar Technologies Inc. (NASDAQ: LAZR), Robert W. Baird upgraded it to an Outperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for LAZR stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate LAZR as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 4 have offered a “buy” rating.

What is LAZR’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $18.00 and a high of $38.00, with their median price target at $29.00. Looking at these predictions, the average price target given by analysts is for Luminar Technologies Inc. (LAZR) stock is $28.63.


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