The price of Luminar Technologies Inc. (NASDAQ:LAZR) shares last traded on Wall Street fell -5.34% to $7.45.
Based on available information, 11 analysts follow Luminar Technologies Inc. (NASDAQ:LAZR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $8.00, we find $12.00. Given the previous closing price of $7.87, this indicates a potential upside of 52.48 percent. LAZR stock price is now -5.23% away from the 50-day moving average and -25.57% away from the 200-day moving average. The market capitalization of the company currently stands at $2.80B.
Among analysts, 4 rate the stock a hold while 6 rate it a buy. Brokers who have rated the stock have averaged $13.82 as their price target over the next twelve months.
With the price target of $8, Rosenblatt recently initiated with Neutral rating for Luminar Technologies Inc. (NASDAQ: LAZR)., while ‘Northland Capital’ rates the stock as ‘Market Perform’.
In other news, Russell Austin, Chairperson, President & CEO bought 25,000 shares of the company’s stock on Sep 20. The stock was bought for $246,818 at an average price of $9.87. Upon completion of the transaction, the Chairperson, President & CEO now directly owns 1,030,000 shares in the company, valued at $7.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, Chairperson, President & CEO Russell Austin bought 25,000 shares of the business’s stock. A total of $234,870 was incurred on buying the stock at an average price of $9.39. This leaves the insider owning 1,005,000 shares of the company worth $7.49 million. Insiders disposed of 1,749,654 shares of company stock worth roughly $13.03 million over the past 1 year. A total of 1.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LAZR stock. A new stake in Luminar Technologies Inc. shares was purchased by COWEN AND COMPANY, LLC during the first quarter worth $7,450,000. POINT72 ASSET MANAGEMENT, L.P. invested $6,197,000 in shares of LAZR during the first quarter. In the first quarter, WEISS MULTI-STRATEGY ADVISERS LLC acquired a new stake in Luminar Technologies Inc. valued at approximately $3,725,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in LAZR for approximately $2,817,000. TWO SIGMA SECURITIES, LLC purchased a new stake in LAZR valued at around $1,104,000 in the second quarter. In total, there are 326 active investors with 56.60% ownership of the company’s stock.
A candlestick chart of Luminar Technologies Inc. (NASDAQ: LAZR) showed a price of $7.69 on Monday morning. During the past 12 months, Luminar Technologies Inc. has had a low of $5.61 and a high of $20.20. As of last week, the company has a debt-to-equity ratio of 14.23, a current ratio of 9.90, and a quick ratio of 9.70. The fifty day moving average price for LAZR is $7.86 and a two-hundred day moving average price translates $10.01 for the stock.
The latest earnings results from Luminar Technologies Inc. (NASDAQ: LAZR) was released for Jun, 2022. According to the Auto Parts Company, earnings per share came in at -$0.18, missing analysts’ expectations of -$0.16 by -0.02. This compares to -$0.15 EPS in the same period last year. The company reported revenue of $12.79 million for the quarter, compared to $7.98 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 60.25 percent. For the current quarter, analysts expect LAZR to generate $9.11M in revenue.
Luminar Technologies Inc.(LAZR) Company Profile
Luminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries. The Component segment develops ultra-sensitive pixel-based sensors. This segment also designs, tests, and provides consulting services for non-standard integrated circuits for use in automobile and aeronautics sector, as well as government spending in military and defense activities. The company was founded in 2012 and is headquartered in Orlando, Florida.