Luminar Technologies Inc. (NASDAQ:LAZR) saw a downside of -0.59% to close Tuesday at $6.71 after subtracting -$0.04 on the day. The 5-day average trading volume is 6,930,900 shares of the company’s common stock. It has gained $7.61 in the past week and touched a new high 1 time within the past 5 days. An average of 7,737,605 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,157,210.
LAZR’s 1-month performance is -6.81% or -$0.12 on its low of $6.38 reached on 08/08/23. The company’s shares have touched a 52-week low of $3.91 and high of $11.35, with the stock’s rally to the 52-week high happening on 03/06/23. YTD, LAZR has achieved 35.56% or $1.76 and has reached a new high 14 times. However, the current price is down -40.86% from the 52-week high price.
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Insider Transactions
LAZR stock investors last saw insider trading activity on Jun 05.Prescott Alan (Chief Legal Officer) most recently sold 37,433 shares at $7.21 per share on Jun 05. This transaction cost the insider $269,866. Chief Financial Officer, Fennimore Thomas, sold 16,543 shares at a price of $7.21 on Jun 05.
Valuation Metrics
LAZR stock has a beta of 1.54. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 54.83.
Luminar Technologies Inc.’s quick ratio for the period ended March 30 was 4.80, with the current ratio over the same period at 4.90. The trailing 12-month EBITDA margin is -1106.44%. The firm’s gross profit as reported stood at -$60.28 million against revenue of $40.7 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Luminar Technologies Inc.’s cash and short-term investments amounted to $332.36 million against total debt of $635.97 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 39.82% to -$146.77 million, while revenue of -$144.82 million was 1.33% off the previous quarter. Analysts expected LAZR to announce -$0.21 per share in earnings in its latest quarter, but it posted -$0.24, representing a -14.30% surprise. EBITDA for the quarter stood at more than -$138.84 million. LAZR stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 740.63 million, with total debt at $635.97 million. Shareholders hold equity totaling $377.66 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 08 August was 41.26% to suggest the stock is trending Neutral, with historical volatility in this time period at 88.34%.
The stock’s 5-day moving average is $7.04, reflecting a -14.41% or -$1.13 change from its current price. LAZR is currently trading -8.21% above its 20-day SMA, -18.77% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +2.13% and SMA200 by-2.47%.
Stochastic %K and %D was 19.05% and 29.79% and the average true range (ATR) pointed at 0.49. The RSI (14) points at 45.19%, while the 14-day stochastic is at 20.25% with the period’s ATR at 0.49. The stock’s 9-day MACD Oscillator is pointing at -0.31 and -0.27 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Luminar Technologies Inc. (NASDAQ: LAZR), TD Cowen reiterated its an Outperform rating for the company but lifted their price target by $12 to $10. Analysts offering their rating for LAZR stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate LAZR as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 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 $4.50 and a high of $20.00, with their median price target at $12.00. Looking at these predictions, the average price target given by analysts is for Luminar Technologies Inc. (LAZR) stock is $12.77.
