Luminar Technologies Inc. (LAZR) Stock: Should Investors Follow These Insider Trades?

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Luminar Technologies Inc. (NASDAQ:LAZR) saw an upside of 5.06% to close Monday at $6.44 after adding $0.31 on the day. The 5-day average trading volume is 11,416,780 shares of the company’s common stock. It has gained $6.94 in the past week and touched a new high 2 times within the past 5 days. An average of 9,834,021 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,438,380.

LAZR’s 1-month performance is 3.87% or $0.77 on its low of $3.91 reached on 01/06/23. The company’s shares have touched a 52-week low of $3.91 and high of $16.80, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, LAZR has achieved 30.10% or $1.49 and has reached a new high 6 times. However, the current price is down -61.67% from the 52-week high price.

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Insider Transactions

LAZR stock investors last saw insider trading activity on Dec 16.Heng Jun Hong (Director) most recently sold 130,480 shares at $14.02 per share on Apr 19. This transaction cost the insider $1,829,708. Director, Heng Jun Hong, sold 59,957 shares at a price of $14.03 on Apr 18. Then, on Mar 17, Director Heng Jun Hong sold 188,172 shares at a price of $14.09 per share. This transaction amounted to $2,651,663.

Valuation Metrics

LAZR stock has a beta of 1.64. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 54.76 while the price-to-book (PB) in the most recent quarter is 53.67.

Luminar Technologies Inc.’s quick ratio for the period ended June 29 was 9.70, with the current ratio over the same period at 9.90. As well, the company’s long term debt to equity for the quarter ending June 29 was 14.22, while the total debt to equity was 14.23. The firm’s gross profit as reported stood at -$14.15 million against revenue of $31.94 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Luminar Technologies Inc.’s cash and short-term investments amounted to $496.98 million against total debt of $629.26 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 56.32% to -$117.55 million, while revenue of -$95.24 million was 18.98% off the previous quarter. Analysts expected LAZR to announce -$0.16 per share in earnings in its latest quarter, but it posted -$0.18, representing a -12.50% surprise. EBITDA for the quarter stood at more than -$112.12 million. LAZR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 699.55 million, with total debt at $629.26 million. Shareholders hold equity totaling $362.76 million.

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 23 January was 64.60% to suggest the stock is trending Neutral, with historical volatility in this time period at 126.81%.

The stock’s 5-day moving average is $6.27, reflecting a +6.98% or $0.42 change from its current price. LAZR is currently trading +8.60% above its 20-day SMA, -23.88% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -11.17% and SMA200 by-58.48%.

Stochastic %K and %D was 75.47% and 76.86% and the average true range (ATR) pointed at 0.58. The RSI (14) points at 57.31%, while the 14-day stochastic is at 83.50% with the period’s ATR at 0.56. The stock’s 9-day MACD Oscillator is pointing at 0.29 and 0.83 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Luminar Technologies Inc. (NASDAQ: LAZR), Rosenblatt launched coverage with a Neutral rating.

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