The stock of Luminar Technologies Inc. (NASDAQ:LAZR) increased by $0.03 on Monday to finish at $6.36, up 0.47 percent. The last five days have seen an average of 6,783,740 shares of common stock traded. 14 times new highs were reached in the current year, with a gain of $1.41. The average number of shares traded over the last 20 days was 7,212,685, while the average volume over the last 50 days totaled 7,173,320.
LAZR stock dropped -9.01% since last month. On 08/11/23, the company’s shares reached a one-month low of $6.01. The stock touched a high of $11.35 on 03/06/23, after rallying from a low of $3.91 in 52 weeks. The price of LAZR stock has risen by 28.48% or $1.41 this year, reaching a new high 14 times. Still, the stock price is down -43.94% from the 52-week high.
Insider Transactions
LAZR stock investors should be aware that Luminar Technologies Inc. (LAZR) stock had its last reported insider trading activity 71 days ago on Jun 05. On Jun 05, Chief Legal Officer Prescott Alan sold 37,433 shares at $7.21 each. This transaction resulted in the insider making $269,866. On Jun 05, Fennimore Thomas sold 16,543 shares at a price of US$7.21. After the transaction, the insider now owns 711,004 shares. Chairperson, President & CEO Russell Austin had earlier bought 791,113 shares on May 16 for $6.12 a share. The transaction was completed for $4,841,849.
Financial Health
For the three months ended June 29, Luminar Technologies Inc.’s quick ratio was 4.40, while its current ratio was 4.60, indicating its ability to pay off its debt. Based on annual data, it had gross profit of -$60.28 million and revenue of $40.7 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. LAZR’s return on assets (ROA) during the last 12 months has been -82.00%. There was a -76.60% return on investment (ROI) in the past year.
Earnings Surprise
According to Luminar Technologies Inc.’s quarterly financial report for the quarter that ended June 29, it had $276.68 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $15.67 million, while revenues rose by 36.63% to $14.51 million. It was predicted that Luminar Technologies Inc.’s quarterly earnings would be -$0.21, but it ended up being -$0.23, beating the consensus by 8.70%. EBITDA was -$139.4 million for the quarter. At the end of Luminar Technologies Inc.’s most recent quarter ended June 29, its liabilities totaled 728.92 million, while its total debt was $636.58 million. Equity owned by shareholders amounts to $390.38 million.
Technical Picture
Here’s a quick look at Luminar Technologies Inc.’s (LAZR) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 39.19%, suggesting the stock is Neutral, with a 83.82% historical volatility rate.
The stochastic %K and %D were 12.02% and 10.48% respectively, while the average true range (ATR) was 0.51. Based on the 14-day stochastic reading of 17.50%, the RSI (14) reading is 42.63%. On the 9-day MACD Oscillator, the stock is at -0.43, and the 14-day reading is at -0.63.
Analyst Ratings
In a note to investors, TD Cowen maintained its an Outperform rating on Luminar Technologies Inc. (NASDAQ: LAZR). However, the firm raised their price target to $10, indicating a possible increase of 47.0% in the stock price. Analysts have assigned Luminar Technologies Inc. (LAZR) an Overweight rating. LAZR is a stock that is recommended for selling by 1 brokerage firm, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 7 others recommend it as a buy.
What is LAZR’s price target for the next 12 months?
The current consensus forecast for the stock is between $4.50 and $20.00, with a median target price of $12.00. In analyzing these forecasts, the average price target given by analysts for Luminar Technologies Inc. (LAZR) is $12.41.
