Luminar Technologies Inc. (NASDAQ:LAZR) Is 14.71% Above Its 52-Week Low, But How Long Will It Remain So? – Marketing Sentinel
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Luminar Technologies Inc. (NASDAQ:LAZR) Is 14.71% Above Its 52-Week Low, But How Long Will It Remain So?

In last trading session, Luminar Technologies Inc. (NASDAQ:LAZR) saw 4.07 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $15.77 trading at -$0.41 or -2.53% at ring of the bell on the day assigns it a market valuation of $5.55B. That closing price of LAZR’s stock is at a discount of -159.86% from its 52-week high price of $40.98 and is indicating a premium of 14.71% from its 52-week low price of $13.45. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.75 million shares which gives us an average trading volume of 5.96 million if we extend that period to 3-months.

Luminar Technologies Inc. (NASDAQ:LAZR) trade information

Upright in the red during last session for losing -2.53%, in the last five days LAZR remained trading in the green while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $15.77 price level, adding 5.51% to its value on the day. Luminar Technologies Inc.’s shares saw a change of -6.74% in year-to-date performance and have moved 2.80% in past 5-day. Luminar Technologies Inc. (NASDAQ:LAZR) showed a performance of 4.58% in past 30-days. Number of shares sold short was 18.96 million shares which calculate 3.14 days to cover the short interests.

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Wall Street analysts have assigned a consensus price target of $28.00 to the stock, which implies a rise of 43.68% to its current value. Analysts have been projecting $17.00 as a low price target for the stock while placing it at a high target of $38.00. It follows that stock’s current price would drop -140.96% in reaching the projected high whereas dropping to the targeted low would mean a loss of -7.8% for stock’s current value.

Luminar Technologies Inc. (LAZR) estimates and forecasts

The company is estimating its revenue growth to increase by 96.00% in the current quarter and calculating -12.50% decrease in the next quarter. This year revenue growth is estimated to rise 123.20% from the last financial year’s standing.

7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $11.59 million for the same. And 3 analysts are in estimates of company making revenue of $9.81 million in the next quarter that will end on Mar 2022. Company posted $2.43 million and $4.83 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 376.60% while estimating it to be 103.10% for the next quarter.

LAZR Dividends

Luminar Technologies Inc. is more likely to be releasing its next quarterly report between March 16 and March 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 10.20% of company’s total shares while institution are holding 34.63 percent of that, with stock having share float percentage of 38.56%. Investors also watch the number of corporate investors in a company very closely, which is 34.63% institutions for Luminar Technologies Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at LAZR for having 18.05 million shares of worth $281.65 million. And as of Sep 29, 2021, it was holding 6.94% of the company’s outstanding shares.

The second largest institutional holder is Canvas GP 1, LLC, which was holding about 6.91 million shares on Dec 30, 2020. The number of shares represents firm’s hold over 2.66% of outstanding shares, having a total worth of $234.85 million.

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On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 5.91 million shares of worth $92.2 million or 2.27% of the total outstanding shares. The later fund manager was in possession of 5.25 million shares on Sep 29, 2021, making its stake of worth around $81.87 million in the company or a holder of 2.02% of company’s stock.

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