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The Most Interesting Shares Today: Luminar Technologies Inc. (NASDAQ: LAZR)

In the last trading session, 4.05 million Luminar Technologies Inc. (NASDAQ:LAZR) shares changed hands as the company’s beta touched 1.58. With the company’s per share price at $4.96 changed hands at -$0.15 or -2.94% during last session, the market valuation stood at $1.94B. LAZR’s last price was a discount, traded about -112.7% off its 52-week high of $10.55. The share price had its 52-week low at $3.91, which suggests the last value was 21.17% up since then. When we look at Luminar Technologies Inc.’s average trading volume, we note the 10-day average is 4.44 million shares, with the 3-month average coming to 6.14 million.

Analysts gave the Luminar Technologies Inc. (LAZR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 1 out of 12 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended LAZR as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Luminar Technologies Inc.’s EPS for the current quarter is expected to be -$0.19.

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Luminar Technologies Inc. (NASDAQ:LAZR) trade information

Instantly LAZR was in red as seen at the end of in last trading. With action -6.24%, the performance over the past five days has been red. The drop to weekly highs of 5.47 on Monday, 09/18/23 subtracted -2.94% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.20%, with the 5-day performance at -6.24% in the red. However, in the 30-day time frame, Luminar Technologies Inc. (NASDAQ:LAZR) is -10.95% down. Looking at the short shares, we see there were 62.85 million shares sold at short interest cover period of 10.33 days.

The consensus price target for the stock as assigned by Wall Street analysts is $11.88, meaning bulls need an upside of 58.25% from its current market value. According to analyst projections, LAZR’s forecast low is $4.50 with $20.00 as the target high. To hit the forecast high, the stock’s price needs a -303.23% plunge from its current level, while the stock would need to tank 9.27% for it to hit the projected low.

Luminar Technologies Inc. (LAZR) estimates and forecasts

Data shows that the Luminar Technologies Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -41.51% over the past 6 months, a -3.85% in annual growth rate that is considerably lower than the industry average of 13.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Luminar Technologies Inc. will fall -5.60%, while the growth in revenue is estimated to hit 38.50% for the next quarter. Year-over-year growth is forecast to reach 107.60% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $19.55 million. 9 analysts are of the opinion that Luminar Technologies Inc.’s revenue for the quarter ending Dec 2023 will be $33.99 million. The company’s revenue for the corresponding quarters a year ago was $9.11 million and $11.13 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 114.60%. The estimates for the next quarter sales put growth at 205.50%.

The 2023 estimates are for Luminar Technologies Inc. earnings to decrease by -82.10%.

LAZR Dividends

Luminar Technologies Inc. is expected to release its next quarterly earnings report between October 31 and November 06.

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

If we look at who the major shareholders are, we find that insiders hold 10.77% of Luminar Technologies Inc. shares while 59.97% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.21%. There are 59.97% institutions holding the Luminar Technologies Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.01% of the shares, roughly 23.49 million LAZR shares worth $116.51 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.62% or 19.41 million shares worth $96.25 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Delaware Ivy Science and Technology Fund. With 7.72 million shares estimated at $38.3 million under it, the former controlled 2.63% of total outstanding shares. On the other hand, Delaware Ivy Science and Technology Fund held about 2.41% of the shares, roughly 7.07 million shares worth around $35.06 million.

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