During the last session, Luminar Technologies Inc. (NASDAQ:LAZR)’s traded shares were 6.54 million, with the beta value of the company hitting 1.55. At the end of the trading day, the stock’s price was $6.30, reflecting an intraday loss of -2.48% or -$0.16. The 52-week high for the LAZR share is $11.35, that puts it down -80.16 from that peak though still a striking 37.94% gain since the share price plummeted to a 52-week low of $3.91. The company’s market capitalization is $2.46B, and the average intraday trading volume over the past 10 days was 10.79 million shares, and the average trade volume was 11.15 million shares over the past three months.
Luminar Technologies Inc. (LAZR) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. LAZR has a Sell rating from 1 analyst(s) out of 12 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 7 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.23.
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Luminar Technologies Inc. (NASDAQ:LAZR) trade information
Luminar Technologies Inc. (LAZR) registered a -2.48% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.48% in intraday trading to $6.30 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -3.67%, and it has moved by 13.92% in 30 days. Based on these gigs, the overall price performance for the year is -34.38%. The short interest in Luminar Technologies Inc. (NASDAQ:LAZR) is 68.93 million shares and it means that shorts have 9.26 day(s) to cover.
The consensus price target of analysts on Wall Street is $12.29, which implies an increase of 48.74% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.50 and $20.00 respectively. As a result, LAZR is trading at a discount of -217.46% off the target high and 28.57% off the low.
Luminar Technologies Inc. (LAZR) estimates and forecasts
Statistics show that Luminar Technologies Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Luminar Technologies Inc. (LAZR) shares have gone down -15.44% during the last six months, with a year-to-date growth rate less than the industry average at -3.85% against 15.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -27.80% this quarter and then drop -5.60% in the quarter after that. In the rating firms’ projections, revenue will increase 113.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $16.18 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $22.27 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $9.93 million and $9.11 million respectively. In this case, analysts expect current quarter sales to grow by 62.90% and then jump by 144.50% in the coming quarter.
While earnings are projected to return -82.10% in 2023.
Luminar Technologies Inc. is due to release its next quarterly earnings between August 07 and August 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Luminar Technologies Inc. (NASDAQ:LAZR)’s Major holders
Luminar Technologies Inc. insiders own 13.25% of total outstanding shares while institutional holders control 56.62%, with the float percentage being 65.27%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 338 institutions own stock in it. As of Mar 30, 2023, the company held over 22.72 million shares (or 8.10% of all shares), a total value of $147.45 million in shares.
The next largest institutional holding, with 17.8 million shares, is of Blackrock Inc.’s that is approximately 6.35% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $115.54 million.
Also, the Mutual Funds coming in first place with the largest holdings of Luminar Technologies Inc. (LAZR) shares are Delaware Ivy Science and Technology Fund and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2022 indicates that Delaware Ivy Science and Technology Fund owns about 7.07 million shares. This amounts to just over 2.52 percent of the company’s overall shares, with a $34.99 million market value. The same data shows that the other fund manager holds slightly less at 6.97 million, or about 2.49% of the stock, which is worth about $34.5 million.