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A Review of Luminar Technologies Inc (NASDAQ: LAZR)’s Performance and Growth Prospects

In the last trading session, 6.25 million Luminar Technologies Inc (NASDAQ:LAZR) shares changed hands as the company’s beta touched 1.55. With the company’s per share price at $2.91 changed hands at $0.01 or 0.34% during last session, the market valuation stood at $1.17B. LAZR’s last price was a discount, traded about -262.54% off its 52-week high of $10.55. The share price had its 52-week low at $2.09, which suggests the last value was 28.18% up since then. When we look at Luminar Technologies Inc’s average trading volume, we note the 10-day average is 5.47 million shares, with the 3-month average coming to 0.77.

Luminar Technologies Inc (NASDAQ:LAZR) trade information

Instantly LAZR was in green as seen at the end of in last trading. With action 1.39%, the performance over the past five days has been green. The jump to weekly highs of 3.05 added 0.34% to the stock’s daily price. The company’s shares are showing year-to-date downside of -13.65%, with the 5-day performance at 1.39% in the green. However, in the 30-day time frame, Luminar Technologies Inc (NASDAQ:LAZR) is 1.57% up. Looking at the short shares, we see there were 79.9 million shares sold at short interest cover period of 10.11 days.

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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 -52.30% over the past 6 months, a -8.97% in annual growth rate that is considerably lower than the industry average of 15.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Luminar Technologies Inc will rise 26.90%, while the growth in revenue is estimated to hit 25.00% for the next quarter. Year-over-year growth is forecast to reach 84.30% up from the last financial year.

Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $27.31 million. 7 analysts are of the opinion that Luminar Technologies Inc’s revenue for the quarter ending Mar 2024 will be $30.33 million. The company’s revenue for the corresponding quarters a year ago was $11.13 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 145.50%.

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 2024 estimates are for Luminar Technologies Inc earnings to decrease by -9.44%.

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