As of Wednesday close, Luminar Technologies Inc.’s (NASDAQ:LAZR) stock was down -$0.17, moving down -3.46 percent to $4.74. The average number of shares traded per day over the past five days has been 4,403,500 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.44 fall in that time frame. In the last twenty days, the average volume was 4,582,235, while in the previous 50 days, it was 6,074,654.
Since last month, LAZR stock retreated -18.42%. Shares of the company fell to $4.73 on 09/20/23, the lowest level in the past month. A 52-week high of $10.55 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 dropped by -4.24% or -$0.21, and marked a new high 14 times. However, the stock has declined by -55.07% since its 52-week high.
LAZR stock investors should be aware that Luminar Technologies Inc. (LAZR) stock had its last reported insider trading activity 15 days ago on Sep 06. Prescott Alan, the Chief Legal Officer of the company, disposed of 42,171 shares for $5.57 on Sep 06. It resulted in a $234,682 divestment by the insider. Fennimore Thomas sold 18,305 shares at an average price of $5.57 on Sep 06. The insider now owns 692,699 shares following the transaction. On Jun 05, Chief Legal Officer Prescott Alan sold 37,433 shares at $7.21 apiece. The transaction was valued at $269,866.
Financial Health
In the three months ended June 29, Luminar Technologies Inc.’s quick ratio stood at 4.40, while its current ratio was 4.60, 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 36.63% to $14.51 million during the quarter, while net income inched up to $15.67 million. While analysts expected Luminar Technologies Inc. to report -$0.23 quarterly earnings, the actual figure was -$0.21 per share, beating the consensus estimate by 8.70%. During the quarter, the company generated -$139.4 million in EBITDA. The liabilities of Luminar Technologies Inc. were 728.92 million at the end of its most recent quarter ended June 29, and its total debt was $636.58 million. The value of shareholders’ equity is $390.38 million.
Technical Picture
This quick technical analysis looks at Luminar Technologies Inc.’s (LAZR) price momentum. With a historical volatility rate of 15.64%, the RSI 9-day stood at 18.27% on 20 September.
With respect to its five-day moving average, the current Luminar Technologies Inc. price is down by -8.49% percent or -$0.44. At present, LAZR shares trade -18.13% below its 20-day simple moving average and -19.25% percent below its 100-day simple moving average. However, the stock is currently trading approximately -35.16% below its SMA50 and -40.00% below its SMA200.
Stochastic coefficient K was 1.33% and Stochastic coefficient D was 2.90%, while ATR was 0.26. Given the Stochastic reading of 0.78% for the 14-day period, the RSI (14) reading has been calculated as 26.69%. As of today, the MACD Oscillator reading stands at -0.24, while the 14-day reading stands at -0.45.
Analyst Ratings
TD Cowen reiterated its an Outperform rating on Luminar Technologies Inc. (NASDAQ: LAZR) in a note to investors. The analysts firm has however raised their price target to $10, representing a possible 60.5% increase in the stock price. 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 $11.00, 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 $11.88.
