Luminar Technologies Inc. (NASDAQ:LAZR) saw an upside of 0.35% to close Monday at $5.81 after adding $0.02 on the day. The 5-day average trading volume is 5,205,300 shares of the company’s common stock. It has gained $6.35 in the past week and touched a new high 1 time within the past 5 days. An average of 6,573,650 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,808,900.
LAZR’s 1-month performance is -15.92% or -$1.10 on its low of $5.47 reached on 08/18/23. The company’s shares have touched a 52-week low of $3.91 and high of $10.55, with the stock’s rally to the 52-week high happening on 03/06/23. YTD, LAZR has achieved 17.37% or $0.86 and has reached a new high 14 times. However, the current price is down -44.93% 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 1.58. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 38.66.
Luminar Technologies Inc.’s quick ratio for the period ended June 29 was 4.40, with the current ratio over the same period at 4.60. 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 June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 32.82% to -$141.76 million, while revenue of -$146.77 million was -3.53% off the previous quarter. Analysts expected LAZR to announce -$0.23 per share in earnings in its latest quarter, but it posted -$0.21, representing a 8.70% surprise. EBITDA for the quarter stood at more than -$139.4 million. LAZR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 728.92 million, with total debt at $636.58 million. Shareholders hold equity totaling $390.38 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 21 August was 34.62% to suggest the stock is trending Neutral, with historical volatility in this time period at 50.47%.
The stock’s 5-day moving average is $5.84, reflecting a -8.65% or -$0.55 change from its current price. LAZR is currently trading -15.31% above its 20-day SMA, -8.36% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -13.15% and SMA200 by-29.58%.
Stochastic %K and %D was 9.59% and 5.76% and the average true range (ATR) pointed at 0.43. The RSI (14) points at 38.31%, while the 14-day stochastic is at 15.82% with the period’s ATR at 0.45. The stock’s 9-day MACD Oscillator is pointing at -0.31 and -0.67 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 $12.32.
