Luminar Technologies Inc. (NASDAQ: LAZR) – Analyst View Is Different Today – Marketing Sentinel
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Luminar Technologies Inc. (NASDAQ: LAZR) – Analyst View Is Different Today

In today’s recent session, 3.3 million shares of the Luminar Technologies Inc. (NASDAQ:LAZR) were traded. Most recently the company’s share price was $7.52, and it changed around $0.06 or 0.80% from the last close, which brings the market valuation of the company to $2.59B. LAZR at last check was trading at a discount to its 52-week high of $25.30, offering almost -236.44% off that amount. The share price’s 52-week low was $6.93, which indicates that the recent value has risen by an impressive 7.85% since then. We note from Luminar Technologies Inc.’s average daily trading volume that its 10-day average is 5.45 million shares, with the 3-month average coming to 5.12 million.

Luminar Technologies Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended LAZR as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Luminar Technologies Inc. is expected to report earnings per share of -$4.82 for the current quarter.

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Luminar Technologies Inc. (NASDAQ:LAZR) trade information

Instantly LAZR has been showing a green trend so far today with a performance of 0.80% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 7.86 on Tuesday, 06/21/22 increased the stock’s daily price by 4.33%. The company’s shares are currently down -55.88% year-to-date, but still up 1.50% over the last five days. On the other hand, Luminar Technologies Inc. (NASDAQ:LAZR) is -25.92% up in the 30-day period. We can see from the shorts that 42.32 million shares have been sold at a short interest cover period of 6.29 day(s).

The consensus price target as assigned by Wall Street analysts is $18.69, which translates to bulls needing to increase their stock price by 59.76% from its current value. Analyst projections state that LAZR is forecast to be at a low of $9.00 and a high of $37.00. In order for the stock price to hit the forecast high, the stock would need to plunge -392.02% from its current level, while the stock would need to crash -19.68% from its current level to reach the projected low.

Luminar Technologies Inc. (LAZR) estimates and forecasts

Luminar Technologies Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -53.87 percent over the past six months and at a -81.58% annual growth rate that is well below the industry average of 4.60%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -5,925.00% in revenue this quarter, and will report a decrease of -4,930.00% in the next quarter. The year-over-year growth rate is expected to be 3,737.60%, up from the previous year.

Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $260.65 million in revenue for the current quarter. 11 analysts expect Luminar Technologies Inc. to make $326.81 million in revenue for the quarter ending Sep 2022. Forecasts for the next quarter put sales growth at 3,576.20%.

LAZR Dividends

Luminar Technologies Inc.’s next quarterly earnings report is expected to be released around August 10 and August 15.

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

Upon looking at major shareholders, it appears that insiders hold 13.49% of Luminar Technologies Inc. shares, and 46.54% of them are in the hands of institutional investors. The stock currently has a share float of 53.79%. Luminar Technologies Inc. stock is held by 306 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2022, it held 7.55% of the shares, which is about 19.22 million shares worth $300.38 million.

G2VP I Associates, LLC, with 4.17% or 10.6 million shares worth $165.66 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Mar 30, 2022. The former held 6.58 million shares worth $102.89 million, making up 2.59% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 5.54 million shares worth around $86.6 million, which represents about 2.18% of the total shares outstanding.

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