Luminar Technologies Inc. (NASDAQ:LAZR) finished Thursday with a subtraction of -$0.29 to close at $5.52, a downside of -4.99 percent. An average of 4,876,900 shares of common stock have been traded in the last five days. There was a fall of -$0.05 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 6,349,500 shares traded, while the 50-day average volume stands at 6,619,238.
LAZR stock has decreased by -23.23% in the last month. The company shares reached their 1-month lowest point of $5.43 on 08/24/23. With the stock rallying to its 52-week high on 03/06/23, shares of the company touched a low of $3.91 and a high of $10.55 in 52 weeks. It has reached a new high 14 times so far this year and achieved 11.52% or $0.57 in price. In spite of this, the price is down -47.68% 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 81 days ago on Jun 05. In this transaction, the insider spent $269,866. Chief Financial Officer, Fennimore Thomas, disposed of 16,543 shares at a price of $7.21 on Jun 05. The insider now owns more than $119,263 worth of shares.
Valuation Metrics
Luminar Technologies Inc. (LAZR) stock’s beta is 1.57. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 36.73.
Financial Health
The quick ratio of Luminar Technologies Inc. for the three months ended June 29 was 4.40, and the current ratio was 4.60, indicating that the company is able to meet its debt obligations. Luminar Technologies Inc.’s EBITDA margin for the year ending June 29 is -1106.44%. Its gross profit as reported stood at -$60.28 million compared to revenue of $40.7 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Luminar Technologies Inc.’s return on assets was -82.00%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$141.76 million in the quarter, while revenues of -$146.77 million were grew 32.82%. The analyst consensus anticipated Luminar Technologies Inc.’s latest quarter earnings to come in at -$0.23 per share, but it turned out to be -$0.21, a 8.70% surprise. For the quarter, EBITDA amounted to -$139.4 million. Shareholders own equity worth $390.38 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Luminar Technologies Inc. (LAZR) price momentum. RSI 9-day as of the close on 24 August was 29.17%, suggesting the stock is oversold, with historical volatility in this time frame at 55.83%.
As of today, LAZR’s price is $5.74 -0.90% or -$0.05 from its 5-day moving average. LAZR is currently trading -17.73% lower than its 20-day SMA and -14.95% lower than its 100-day SMA. However, the stock’s current price level is -25.81% below the SMA50 and -28.77% below the SMA200.
The stochastic %K and %D were 12.45% and 14.40%, respectively, and the average true range (ATR) was 0.40. With the 14-day stochastic at 4.97% and the average true range at 0.42, the RSI (14) stands at 34.78%. The stock has reached -0.15 on the 9-day MACD Oscillator while the 14-day reading was at -0.36.
Analyst Ratings
TD Cowen reiterated its an Outperform rating on Luminar Technologies Inc. (NASDAQ: LAZR), but raised their price target to $12, indicating a potential price increase of 54.0% for the stock. The consensus rating for Luminar Technologies Inc. (LAZR) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell LAZR, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 others rate it as a “buy”.
What is LAZR’s price target for the next 12 months?
Analysts predict a range of price targets between $4.50 and $20.00, with a median target of $12.00. Taking a look at these predictions, the average price target given by analysts for Luminar Technologies Inc. (LAZR) stock is $12.32.
