Purchase Of Shares In Luminar Technologies Inc. (LAZR) By Russell Austin

As of Friday close, Luminar Technologies Inc.’s (NASDAQ:LAZR) stock was up $1.46, moving up 16.40 percent to $10.36. The average number of shares traded per day over the past five days has been 9,414,460 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.76 fall in that time frame. In the last twenty days, the average volume was 6,189,005, while in the previous 50 days, it was 4,811,076.


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Since last month, LAZR stock retreated -29.28%. Shares of the company fell to $8.00 on 05/12/22, the lowest level in the past month. A 52-week high of $26.39 was reached on 01/05/22 after having rallying from a 52-week low of $8.00. Since the beginning of this year, LAZR’s stock price has dropped by -38.73% or -$6.55, and marked a new high 3 times. However, the stock has declined by -60.74% since its 52-week high.

Luminar Technologies Inc. (LAZR) last reported insider trading activity 3 days ago on May 11. Russell Austin, the Chairperson, President & CEO of the company, purchased of 300,000 shares for $8.65 on May 11. It resulted in a $2,595,840 investment by the insider. Russell Austin added 300,000 shares at an average price of $8.89 on May 10. The insider now owns 455,000 shares following the transaction. On Apr 19, Director Heng Jun Hong sold 130,480 shares at $14.02 apiece. The transaction was valued at $1,829,708.

Financial Health

In the three months ended September 29, Luminar Technologies Inc.’s quick ratio stood at 15.80, while its current ratio was 16.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 4.92. On the profitability front, the trailing twelve-month gross margin is -44.30% percent. Based on annual data, LAZR earned -$14.15 million in gross profit and brought in $31.94 million in revenue.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. LAZR’s revenue rose 22.59% to $12.34 million during the quarter, while net income inched up to $6.86 million. While analysts expected Luminar Technologies Inc. to report -$0.1 quarterly earnings, the actual figure was -$0.1 per share. During the quarter, the company generated -$80.27 million in EBITDA. The liabilities of Luminar Technologies Inc. were 683.92 million at the end of its most recent quarter ended September 29, and its total debt was $12.21 million. The value of shareholders’ equity is $349.62 million.

Technical Picture

This quick technical analysis looks at Luminar Technologies Inc.’s (LAZR) price momentum. With a historical volatility rate of 147.12%, the RSI 9-day stood at 41.34% on 13 May.

With respect to its five-day moving average, the current Luminar Technologies Inc. price is down by -6.83% percent or -$0.76. At present, LAZR shares trade -28.65% below its 20-day simple moving average and -34.05% percent below its 100-day simple moving average. However, the stock is currently trading approximately -26.73% below its SMA50 and -43.39% below its SMA200.

Stochastic coefficient K was 19.80% and Stochastic coefficient D was 11.88%, while ATR was 1.14. Given the Stochastic reading of 41.88% for the 14-day period, the RSI (14) reading has been calculated as 39.14%. As of today, the MACD Oscillator reading stands at -1.12, while the 14-day reading stands at -1.97.

Analyst Ratings

Credit Suisse launched its rating on Luminar Technologies Inc. (NASDAQ: LAZR) to an Outperform in a note to investors on April 14, 2022. Luminar Technologies Inc. (LAZR) has been rated Overweight by analysts. According to 0 brokerage firms, LAZR is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Luminar Technologies Inc. stock as buy, with 7 recommending it as overweight.

With a median target price of $20.00, the current consensus forecast for the stock is $10.00 – $37.00. Based on these forecasts, analysts predict Luminar Technologies Inc. (LAZR) will achieve an average price target of $20.00.

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