The Insider Activity Of Luminar Technologies Inc. (LAZR) Should Not Be Ignored


As of Thursday close, Luminar Technologies Inc.’s (NASDAQ:LAZR) stock was up $0.27, moving up 4.29 percent to $6.57. The average number of shares traded per day over the past five days has been 8,794,640 shares. 2 times new highs have been achieved over the past 5 days, with a $0.10 gain in that time frame. In the last twenty days, the average volume was 8,617,960, while in the previous 50 days, it was 8,506,992.

Since last month, LAZR stock rose 18.38%. Shares of the company fell to $5.47 on 05/12/23, the lowest level in the past month. A 52-week high of $11.35 was reached on 03/06/23 after having rallying from a 52-week low of $3.91. Since the beginning of this year, LAZR’s stock price has risen by 32.73% or $1.62, and marked a new high 14 times. However, the stock has declined by -42.09% since its 52-week high.

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LAZR stock investors should be aware that Luminar Technologies Inc. (LAZR) stock had its last reported insider trading activity 10 days ago on May 16. Russell Austin, the Chairperson, President & CEO of the company, purchased of 791,113 shares for $6.12 on May 16. It resulted in a $4,841,849 investment by the insider. Russell Austin added 150,000 shares at an average price of $6.26 on May 16. The insider now owns 3,805,685 shares following the transaction. On May 15, Chairperson, President & CEO Russell Austin bought 1,325,685 shares at $6.00 apiece. The transaction was valued at $7,959,545.

Financial Health

In the three months ended March 30, Luminar Technologies Inc.’s quick ratio stood at 4.80, while its current ratio was 4.90, showing that the company is able to pay off its debt. Based on annual data, LAZR earned -$60.28 million in gross profit and brought in $40.7 million in revenue.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. LAZR’s revenue rose 52.72% to $11.13 million during the quarter, while net income inched up to $14.51 million. While analysts expected Luminar Technologies Inc. to report -$0.21 quarterly earnings, the actual figure was -$0.24 per share, beating the consensus estimate by -14.30%. During the quarter, the company generated -$138.84 million in EBITDA. The liabilities of Luminar Technologies Inc. were 740.63 million at the end of its most recent quarter ended March 30, and its total debt was $635.97 million. The value of shareholders’ equity is $377.66 million.

Technical Picture

This quick technical analysis looks at Luminar Technologies Inc.’s (LAZR) price momentum. With a historical volatility rate of 121.51%, the RSI 9-day stood at 55.98% on 25 May.

With respect to its five-day moving average, the current Luminar Technologies Inc. price is up by +1.55% percent or $0.10. At present, LAZR shares trade +11.93% above its 20-day simple moving average and +32.73% percent above its 100-day simple moving average. However, the stock is currently trading approximately -20.46% below its SMA50 and -22.89% below its SMA200.

Stochastic coefficient K was 51.37% and Stochastic coefficient D was 56.85%, while ATR was 0.54. Given the Stochastic reading of 58.09% for the 14-day period, the RSI (14) reading has been calculated as 54.32%. As of today, the MACD Oscillator reading stands at 0.03, while the 14-day reading stands at 0.17.

Analyst Ratings

Luminar Technologies Inc. (LAZR) has been rated Overweight by analysts. According to 1 brokerage firm, LAZR is a sell, and 3 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 $12.00, the current consensus forecast for the stock is $4.50 – $20.00. Based on these forecasts, analysts predict Luminar Technologies Inc. (LAZR) will achieve an average price target of $12.29.


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