Buying Luminar Technologies, Inc. (NASDAQ:LAZR)? Here Are Some Things to Consider

Luminar Technologies, Inc. (NASDAQ:LAZR) shares, dropped in value on Thursday, Apr 08, with the stock price down by -1.73% to the previous day’s close as weak demand from buyers trailed the stock to $22.14.

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Actively observing the price movement in the recent trading, the stock is buoying the session at $22.53, falling within a range of $21.80 and $23.11. The value of beta (5-year monthly) is 0 whereas the PE ratio is 0 over 12-month period. Referring to stock’s 52-week performance, its high was $47.8, and the low was $9.95. On the whole, LAZR has fluctuated by 3.61% over the past month.

We see that LAZR’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.

6 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 2 analyst(s), 4 recommend it as a Buy and no body called the LAZR stock Outperform. In the meantime, none analyst(s) believe the stock as Underperform and none think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LAZR currently trading nearly -15.38% and -23.88% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.12, while the 7-day volatility ratio is showing 6.46% which for the 30-day chart, stands at 9.07%. Furthermore, Luminar Technologies, Inc. (LAZR)’s beta value is 0, and its average true range (ATR) is 2.31. The company’s stock has been forecasted to trade at an average price of $34.5 over the course of the next 52 weeks, with a low of $24 and a high of $40. Based on these price targets, the low is 8.4 off current price, whereas the price has to move +80.67% to reach the yearly target high. Additionally, analysts’ median price of $37.5 is likely to be welcomed by investors because it represents an increase of +69.38% from the current levels.

A comparison of Luminar Technologies, Inc. (LAZR) with its peers suggests the former has fared considerably weaker in the market. LAZR showed an intraday change of -1.73% in today’s session so far, and over the past year, it grew by +130.84%. In comparison, Ferrari N.V. (RACE) has moved higher at +0.39% today and is up +42.03% over the past 12 months. On the other hand, the price of Magna International (MGA) has risen 0.71% today. The stock, however, is off 173.88% from where it was a year ago. Additionally, there is a decline of -173% for Quantumscape Corp (QS) in recent trading while the stock has seen an overall apprecation of 130.84% over the past year. The PE ratio stands at 0 for Luminar Technologies, Inc., compared to 54.09 for Ferrari N.V., and 35.54 for Magna International. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.29%. Meanwhile, the Dow Jones Industrial weakened by -0.03%.

Data on historical trading for Luminar Technologies, Inc. (NASDAQ:LAZR) indicates that the trading volumes over the past 10 days have averaged 3.11 Million and over the past 3 months, they’ve averaged 6.94 Million. According to company’s latest data on outstanding shares, there are 218.82 Million shares outstanding.

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Nearly 30.47% of Luminar Technologies, Inc.’s shares belong to company insiders and institutional investors own 15.09% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 8.9 Million shares as on March 14, 2021, resulting in a short ratio of 1.64. According to the data, the short interest in Luminar Technologies, Inc. (LAZR) stood at 2.75% of shares outstanding as of March 14, 2021; the number of short shares registered in February reached 5.42 Million. The stock has fallen by -33.74% since the beginning of the year, thereby showing the risk of a further decline. This could cause investors’ confidence to be optimistic about the LAZR stock heading into the next quarter.

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