Is Luminar Technologies Inc (NASDAQ: LAZR) a Risk-Worthy Bet for Bold Investors?

In the last trading session, 9.59 million Luminar Technologies Inc (NASDAQ:LAZR) shares changed hands as the company’s beta touched 1.56. With the company’s per share price at $2.88 changed hands at $0.14 or 5.11% during last session, the market valuation stood at $1.16B. LAZR’s last price was a discount, traded about -266.32% off its 52-week high of $10.55. The share price had its 52-week low at $2.69, which suggests the last value was 6.6% up since then. When we look at Luminar Technologies Inc’s average trading volume, we note the 10-day average is 8.63 million shares, with the 3-month average coming to 5.14 million.

Analysts gave the Luminar Technologies Inc (LAZR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.08. 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, 4 recommended LAZR as a Hold, 6 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 $Lazard LTD. Lazard, LTD..

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Luminar Technologies Inc (NASDAQ:LAZR) trade information

Instantly LAZR was in green as seen at the end of in last trading. With action -9.43%, the performance over the past five days has been red. The jump to weekly highs of 3.51 on Friday, 11/17/23 added 5.11% to the stock’s daily price. The company’s shares are showing year-to-date downside of -41.82%, with the 5-day performance at -9.43% in the red. However, in the 30-day time frame, Luminar Technologies Inc (NASDAQ:LAZR) is -21.53% down. Looking at the short shares, we see there were 66.16 million shares sold at short interest cover period of 16.06 days.

The consensus price target for the stock as assigned by Wall Street analysts is $8.88, meaning bulls need an upside of 67.57% from its current market value. According to analyst projections, LAZR’s forecast low is $3.00 with $20.00 as the target high. To hit the forecast high, the stock’s price needs a -594.44% plunge from its current level, while the stock would need to soar -4.17% 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 -54.07% over the past 6 months, a -5.13% in annual growth rate that is considerably lower than the industry average of 20.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -647.93%. The 2023 estimates are for Luminar Technologies Inc earnings to decrease by -8.03%.

LAZR Dividends

Luminar Technologies Inc is expected to release its next quarterly earnings report on November 08. The 11.57% annual yield figure for the share gives it an annual dividend of 0.33. It is important to note, however, that the 11.57% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

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 $161.61 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.62% or 19.41 million shares worth $133.51 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 $53.12 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 $48.63 million.

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