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Is Now A Good Time To Invest In Luminar Technologies Inc. (NASDAQ: LAZR)?

Luminar Technologies Inc. (NASDAQ:LAZR) shares, rose in value on Thursday, 05/25/23, with the stock price up by 4.29% to the previous day’s close as strong demand from buyers drove the stock to $6.57.

Actively observing the price movement in the last trading, the stock closed the session at $6.30, falling within a range of $6.24 and $6.59. The value of beta (5-year monthly) was 1.57. Referring to stock’s 52-week performance, its high was $11.35, and the low was $3.91. On the whole, LAZR has fluctuated by 18.38% over the past month.

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With the market capitalization of Luminar Technologies Inc. currently standing at about $2.56 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 07, 2023 – Aug 11, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.23, which is expected to increase to -$0.16 for fiscal year -$0.77 and then to about -$0.48 by fiscal year 2024. Data indicates that the EPS growth is expected to be 1.30% in 2024, while the next year’s EPS growth is forecast to be 37.70%.

Analysts have estimated the company’s revenue for the quarter at $16.18 million, with a low estimate of $15 million and a high estimate of $17.8 million. According to the average forecast, sales growth in current quarter could jump up 62.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $86.84 million, representing an increase of 113.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. 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% Sell while long term indicators on average have been pointing out that it is a 100% Sell.


The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LAZR currently trading nearly 7.11% and 4.36% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.32, while the 7-day volatility ratio is showing 9.44% which for the 30-day chart, stands at 8.44%. Furthermore, Luminar Technologies Inc. (LAZR)’s beta value is 1.55, and its average true range (ATR) is 0.52.


Data on historical trading for Luminar Technologies Inc. (NASDAQ:LAZR) indicates that the trading volumes over the past 10 days have averaged 10.82 million and over the past 3 months, they’ve averaged 10.67 million. According to company’s latest data on outstanding shares, there are 370.74 million shares outstanding.

Nearly 1.30% of Luminar Technologies Inc.’s shares belong to company insiders and institutional investors own 56.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 68.93 million shares as on Apr 27, 2023, resulting in a short ratio of 9.26. According to the data, the short interest in Luminar Technologies Inc. (LAZR) stood at 18.26% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 67.14 million. The stock has risen by 32.73% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LAZR stock heading into the next quarter.

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