Luminar Technologies Inc (NASDAQ:LAZR) saw a downside of -2.92% to close Monday at $4.32 after subtracting -$0.13 on the day. The 5-day average trading volume is 4,387,000 shares of the company’s common stock. It has gained $5.07 in the past week and touched a new high 1 time within the past 5 days. An average of 4,628,635 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,700,578.
LAZR’s 1-month performance is -21.74% or -$1.25 on its low of $4.29 reached on 09/25/23. 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 lost -12.73% or -$0.63 and has reached a new high 14 times. However, the current price is down -59.05% from the 52-week high price.
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Insider Transactions
LAZR stock investors last saw insider trading activity on Sep 06.Prescott Alan (Chief Legal Officer) most recently sold 42,171 shares at $5.57 per share on Sep 06. This transaction cost the insider $234,682. Chief Financial Officer, Fennimore Thomas, sold 18,305 shares at a price of $5.57 on Sep 06. Then, on Jun 05, Chief Legal Officer Prescott Alan sold 37,433 shares at a price of $7.21 per share. This transaction amounted to $269,866.
Valuation Metrics
LAZR stock has a beta of 1.61. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 30.88.
Luminar Technologies Inc’s quick ratio for the period ended June 29 was 4.34, with the current ratio over the same period at 4.63. In terms of profitability, the gross margin trailing 12 months is -119.53%. The trailing 12-month EBITDA margin is -1106.44% while for the period ending June 29, Luminar Technologies Inc’s operating margin was -991.30%. 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 25 September was 12.32% to suggest the stock is trending oversold, with historical volatility in this time period at 21.72%.
The stock’s 5-day moving average is $4.57, reflecting a -12.90% or -$0.64 change from its current price. LAZR is currently trading -22.44% above its 20-day SMA, -27.39% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -38.20% and SMA200 by-41.22%.
Stochastic %K and %D was 2.13% and 1.72% and the average true range (ATR) pointed at 0.25. The RSI (14) points at 21.46%, while the 14-day stochastic is at 1.84% with the period’s ATR at 0.28. The stock’s 9-day MACD Oscillator is pointing at -0.40 and -0.61 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 3 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 $11.00. Looking at these predictions, the average price target given by analysts is for Luminar Technologies Inc (LAZR) stock is $11.88.
