Luminar Technologies Inc (NASDAQ:LAZR) price on Wednesday, December 04, rose 1.87% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $8.17.
A look at the stock’s price movement, the close in the last trading session was $8.02, moving within a range at $7.85 and $8.4. The beta value (5-Year monthly) was 1.617. Turning to its 52-week performance, $55.35 and $7.90 were the 52-week high and 52-week low respectively. Overall, LAZR moved -32.37% over the past month.
Luminar Technologies Inc’s market cap currently stands at around $272.03 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 17.43M for the company’s revenue for the quarter, with a low and high estimate of 16M and 19.4M respectively. The average forecast suggests down to a -21.17% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 70.28M, representing a 0.71% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that LAZR is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 3 recommend LAZR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
LAZR’s current price about -30.68% and -33.79% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 33.31, while 7-day volatility ratio is 7.23% and 10.78% in the 30-day chart. Further, Luminar Technologies Inc (LAZR) has a beta value of 1.53, and an average true range (ATR) of 1.19. Analysts have given the company’s stock an average 52-week price target of $1, forecast between a low of $1 and high of $3. Looking at the price targets, the low is 87.76% off current price level while to achieve the yearly target high, price needs to move 63.28%. Nonetheless, investors will most likely welcome a 87.76% jump to $1 which is the analysts’ median price.
If we refocus on Luminar Technologies Inc (NASDAQ:LAZR), historical trading data shows that trading volumes averaged 3.13 over the past 10 days and 2.48 million over the past 3 months. The company’s latest data on shares outstanding shows there are 33.30 million shares.
The 22.20% of Luminar Technologies Inc’s shares are in the hands of company insiders while institutional holders own 26.50% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.69 million on 2024-11-15, giving us a short ratio of 2.77. The data shows that as of 2024-11-15 short interest in Luminar Technologies Inc (LAZR) stood at 2586.9999999999995 of shares outstanding, with shares short falling to 7.39 million registered in 2024-10-15. Current price change has pushed the stock -83.84% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the LAZR stock continues to rise going into the next quarter.
