In the last trading session, 7.33 million shares of the Luminar Technologies Inc (NASDAQ:LAZR) were traded, and its beta was 1.48. Most recently the company’s share price was $1.93, and it changed around -$0.17 or -8.10% from the last close, which brings the market valuation of the company to $814.25M. LAZR currently trades at a discount to its 52-week high of $8.32, offering almost -331.09% off that amount. The share price’s 52-week low was $1.63, which indicates that the current value has risen by an impressive 15.54% since then. We note from Luminar Technologies Inc’s average daily trading volume that its 10-day average is 7.45 million shares, with the 3-month average coming to 7.84 million.
Luminar Technologies Inc (NASDAQ:LAZR) trade information
Instantly LAZR has showed a red trend with a performance of -8.10% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -42.73% year-to-date, but still up 14.20% over the last five days. On the other hand, Luminar Technologies Inc (NASDAQ:LAZR) is -17.17% down in the 30-day period. We can see from the shorts that 83.79 million shares have been sold at a short interest cover period of 9.28 day(s).
The consensus price target as assigned by Wall Street analysts is $16, which translates to bulls needing to increase their stock price by 87.94% from its current value. Analyst projections state that LAZR is forecast to be at a low of $8 and a high of $21.
Luminar Technologies Inc (LAZR) estimates and forecasts
Luminar Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -57.58 percent over the past six months and at a 21.84% annual growth rate that is well above the industry average of 14.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 16.70% in revenue this quarter, and will report an increase of 9.50% in the next quarter. The year-over-year growth rate is expected to be 65.70%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $21.05 million in revenue for the current quarter. 8 analysts expect Luminar Technologies Inc to make $25.04 million in revenue for the quarter ending Jun 2024. Forecasts for the next quarter put sales growth at 54.60%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -416.28%.
LAZR Dividends
Luminar Technologies Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.
Luminar Technologies Inc (NASDAQ:LAZR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 9.39% of Luminar Technologies Inc shares, and 45.41% of them are in the hands of institutional investors. The stock currently has a share float of 50.11%. Luminar Technologies Inc stock is held by 340 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 8.01% of the shares, which is about 23.49 million shares worth $161.61 million.
Blackrock Inc., with 6.62% or 19.41 million shares worth $133.51 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Delaware Ivy Science and Technology Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 7.72 million shares worth $53.12 million, making up 2.63% of all outstanding shares. On the other hand, Delaware Ivy Science and Technology Fund held roughly 7.07 million shares worth around $48.63 million, which represents about 2.41% of the total shares outstanding.
