In the last trading session, 66.54 million shares of the Luminar Technologies Inc (NASDAQ:LAZR) were traded, and its beta was 1.60. Most recently the company’s share price was $0.94, and it changed around $0.13 or 14.74% from the last close, which brings the market valuation of the company to $473.30M. LAZR currently trades at a discount to its 52-week high of $3.99, offering almost -324.47% off that amount. The share price’s 52-week low was $0.73, which indicates that the current value has risen by an impressive 22.34% since then. We note from Luminar Technologies Inc’s average daily trading volume that its 10-day average is 32.89 million shares, with the 3-month average coming to 25.71 million.
Luminar Technologies Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.56. If we narrow it down even further, the data shows that 2 out of 11 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 3 recommended LAZR as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Luminar Technologies Inc is expected to report earnings per share of -0.17 for the current quarter.
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Luminar Technologies Inc (NASDAQ:LAZR) trade information
Instantly LAZR has showed a green trend with a performance of 14.74% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 0.9680 on recent trading dayincreased the stock’s daily price by 2.89%. The company’s shares are currently down -72.26% year-to-date, but still up 14.14% over the last five days. On the other hand, Luminar Technologies Inc (NASDAQ:LAZR) is 2.78% up in the 30-day period. We can see from the shorts that 110.86 million shares have been sold at a short interest cover period of 3.06 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 94.12% from its current value. Analyst projections state that LAZR is forecast to be at a low of $1 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 -35.96 percent over the past six months and at a 26.44% annual growth rate that is well above the industry average of 6.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 19.00% in revenue this quarter, and will report an increase of 20.00% in the next quarter. The year-over-year growth rate is expected to be 9.20%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 18.68M in revenue for the current quarter. 9 analysts expect Luminar Technologies Inc to make 22.25M in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 0.60%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -416.28%. Luminar Technologies Inc earnings are expected to increase by 22.69% in 2024, but the outlook is positive 20.00% per year for the next five years.
LAZR Dividends
Luminar Technologies Inc’s next quarterly earnings report is expected to be released in November.
Luminar Technologies Inc (NASDAQ:LAZR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.96% of Luminar Technologies Inc shares, and 40.96% of them are in the hands of institutional investors. The stock currently has a share float of 42.21%. Luminar Technologies Inc stock is held by 339.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 7.6874% of the shares, which is about 32.67 million shares worth $48.67 million.
BLACKROCK INC., with 5.9268% or 25.18 million shares worth $37.53 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
