Luminar Technologies Inc (NASDAQ:LAZR) shares, rose in value, with the stock price up by 3.11% to the previous day’s close as strong demand from buyers drove the stock to $1.99.
Actively observing the price movement in the last trading, the stock closed the session at $1.93. The value of beta (5-year monthly) was 1.51. Referring to stock’s 52-week performance, its high was $8.32, and the low was $1.63. On the whole, LAZR has fluctuated by -11.95% over the past month.
With the market capitalization of Luminar Technologies Inc currently standing at about $839.56 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. 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 -$0.2, which is expected to increase to -$0.16 for fiscal year -$0.66 and then to about -$0.51 by fiscal year 2025. Data indicates that the EPS growth is expected to be 24.10% in 2025, while the next year’s EPS growth is forecast to be 22.70%.
Analysts have estimated the company’s revenue for the quarter at $21.04 million, with a low estimate of $19.5 million and a high estimate of $22.1 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $114.95 million, representing an increase of 64.70% 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 100% 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 5.81% and -14.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.89, while the 7-day volatility ratio is showing 8.29% which for the 30-day chart, stands at 8.25%. Furthermore, Luminar Technologies Inc (LAZR)’s beta value is 1.48, and its average true range (ATR) is 0.17.
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 3.11% in last session, and over the past year, it shrunk by -69.34%%.
Data on historical trading for Luminar Technologies Inc (NASDAQ:LAZR) indicates that the trading volumes over the past 10 days have averaged 7.44 million and over the past 3 months, they’ve averaged 7.82 million. According to company’s latest data on outstanding shares, there are 322.74 million shares outstanding.
Nearly 35.21% of Luminar Technologies Inc’s shares belong to company insiders and institutional investors own 30.46% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 83.79 million shares as on Mar 15, 2024, resulting in a short ratio of 9.28. According to the data, the short interest in Luminar Technologies Inc (LAZR) stood at 19.86% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 90.5 million. The stock has fallen by -40.95% 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.
