The trading price of Luminar Technologies, Inc. (NASDAQ:LAZR) closed lower on Monday, Feb 22, closing at $33.69, -7.42% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $30.81 and $33.67. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $47.8 and a 52-week low of $9.45. Over the past month, the stock has suffered -5.05% in value.
On the technical side, indicators suggest LAZR has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned LAZR a recommendation rating is 5. Out of them, 2 rate it a Hold, while 3 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Luminar Technologies, Inc. (LAZR) as Underperform, while not any of them advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that LAZR’s price is currently -8.81% off the SMA20 and -4.85% off the SMA50. The RSI metric on the 14-day chart is currently showing 44.65, and weekly volatility stands at 9.19%. When measured over the past 30 days, the indicator reaches 9.64%. Luminar Technologies, Inc. (NASDAQ:LAZR)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 3.08. With analysts defining $30-$40 as the low and high price targets, we arrive at a consensus price target of $36.6 for the trailing 12-month period. The current price is about -3.82% off the estimated low and 28.25% off the forecast high, based on this estimate. Investors will be thrilled if LAZR’s share price rises to $38, which is the median consensus price. At that level, LAZR’s share price would be +21.83% above current price.
To see how Luminar Technologies, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: LAZR stock’s performance was -7.42% in the latest trading, and +194.8% in the past year, while Ferrari N.V. (RACE) has traded -0.79% on the day and positioned +13.78% higher than it was a year ago. Another comparable company Magna International (MGA) saw its stock close 4.18% higher in the most recent trading session but was up +68.28% in a year. Furthermore, Borgwarner Inc (BWA) showed a decline of -7.42% on the day while its price kept rising at 194.8% over the past year. Luminar Technologies, Inc. has a P/E ratio of 0, compared to Ferrari N.V.’s 43.86 and Magna International’s 58.42. Also in last trading session, the S&P 500 Index has soared -0.77%, while the Dow Jones Industrial also saw a positive session, up +0.09% on the day.
An evaluation of the daily trading volume of Luminar Technologies, Inc. (NASDAQ:LAZR) indicates that the 3-month average is 14.04 Million. However, this figure has increased over the past 10 days to an average of 6.97 Million.
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Currently, records show that 218.82 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 30.57% of outstanding shares, whereas institutions hold 11.45%. The stats also highlight that short interest as of January 28, 2021, stood at 10.78 Million shares, resulting in a short ratio of 1.2 at that time. From this, we can conclude that short interest is 3.33% of the company’s total outstanding shares. It is noteworthy that short shares in January were up slightly from the previous month’s figure, which was 9.66 Million. However, since the stock’s price has seen -8.26% year-to-date, investors’ interest is likely to be reignited due to its potential to move higher ahead.