The trading price of Luminar Technologies Inc (NASDAQ:LAZR) closed higher on Friday, December 06, and closing at $7.81, 3.72% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $7.44 and $8.43. In examining the 52-week price action we see that the stock hit a 52-week high of $55.35 and a 52-week low of $7.45. Over the past month, the stock has lost -44.09% in value.
Luminar Technologies Inc, whose market valuation is $260.04 million at the time of this writing, is expected to release its quarterly earnings report in January. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest LAZR has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
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 6. Out of them, 2 rate it a Hold, while 3 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Luminar Technologies Inc (LAZR) as Underweight, while 1 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that LAZR’s price is currently -30.18% off the SMA20 and -35.55% off the SMA50. The RSI metric on the 14-day chart is currently showing 33.19, and weekly volatility stands at 9.97%. When measured over the past 30 days, the indicator reaches 11.15%. Luminar Technologies Inc (NASDAQ:LAZR)’s beta value is currently sitting at 1.54, while the Average True Range indicator is currently displaying 1.17. With analysts defining $1-$3 as the low and high price targets, we arrive at a consensus price target of $1 for the trailing 12-month period. The current price is about 87.2% off the estimated low and 61.59% off the forecast high, based on this estimate. Investors will be thrilled if LAZR’s share price rises to $1, which is the median consensus price. At that level, LAZR’s share price would be 87.2% 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 3.72% in the latest trading, and -79.90% in the past year.
An evaluation of the daily trading volume of Luminar Technologies Inc (NASDAQ:LAZR) indicates that the 3-month average is 2.49 million. However, this figure has increased over the past 10 days to an average of 2.48.
Currently, records show that 33.30 million of the company’s shares remain outstanding. The insiders hold 22.20% of outstanding shares, whereas institutions hold 26.50%. The stats also highlight that short interest as of 2024-11-15, stood at 6.69 million shares, resulting in a short ratio of 2.77 at that time. From this, we can conclude that short interest is 2587.00 of the company’s total outstanding shares. It is noteworthy that short shares in November were down slightly from the previous month’s figure, which was 7.39 million. However, since the stock’s price has seen -84.55% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
