Luminar Technologies Inc. (NASDAQ: LAZR) Stock: Instant Disaster Or Awesome Opportunity? – Marketing Sentinel
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Luminar Technologies Inc. (NASDAQ: LAZR) Stock: Instant Disaster Or Awesome Opportunity?

In the last trading session, 2.78 million shares of the Luminar Technologies Inc. (NASDAQ:LAZR) were traded. Most recently the company’s share price was $15.57, and it changed around $0.59 or 3.94% from the last close, which brings the market valuation of the company to $5.40B. LAZR currently trades at a discount to its 52-week high of $47.80, offering almost -207.0% off that amount. The share price’s 52-week low was $9.95, which indicates that the current value has risen by an impressive 36.1% since then. We note from Luminar Technologies Inc.’s average daily trading volume that its 10-day average is 1.8 million shares, with the 3-month average coming to 3.01 million.

Luminar Technologies Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 3 recommended LAZR as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Luminar Technologies Inc. is expected to report earnings per share of -$0.1 for the current quarter.

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Luminar Technologies Inc. (NASDAQ:LAZR) trade information

Instantly LAZR has showed a green trend with a performance of 3.94% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 15.81 on Tuesday, 10/12/21 increased the stock’s daily price by 1.52%. The company’s shares are currently down -54.21% year-to-date, but still up 2.50% over the last five days. On the other hand, Luminar Technologies Inc. (NASDAQ:LAZR) is -5.18% up in the 30-day period. We can see from the shorts that 21.95 million shares have been sold at a short interest cover period of 6.75 day(s).

The consensus price target as assigned by Wall Street analysts is $28.63, which translates to bulls needing to increase their stock price by 45.62% from its current value. Analyst projections state that LAZR is forecast to be at a low of $18.00 and a high of $38.00. In order for the stock price to hit the forecast high, the stock would need to plunge -144.06% from its current level, while the stock would need to crash -15.61% from its current level to reach the projected low.

Luminar Technologies Inc. (LAZR) estimates and forecasts

The year-over-year growth rate is expected to be 123.40%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $8.95 million in revenue for the current quarter. 4 analysts expect Luminar Technologies Inc. to make $10.5 million in revenue for the quarter ending Dec 2021. Forecasts for the next quarter put sales growth at 331.70%.

LAZR Dividends

Luminar Technologies Inc.’s next quarterly earnings report is expected to be released around August 04 and August 09.

Luminar Technologies Inc. (NASDAQ:LAZR)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 16.80% of Luminar Technologies Inc. shares, and 32.45% of them are in the hands of institutional investors. The stock currently has a share float of 39.01%. Luminar Technologies Inc. stock is held by 251 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Jun 29, 2021, it held 7.15% of the shares, which is about 17.69 million shares worth $388.37 million.

Canvas GP 1, LLC, with 2.79% or 6.91 million shares worth $234.85 million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2021. The former held 5.88 million shares worth $128.96 million, making up 2.37% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 5.18 million shares worth around $113.61 million, which represents about 2.09% of the total shares outstanding.

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