Luminar Technologies Inc. (LAZR) Volatility At 6.46%, Should You Add A Position?

159 institutions hold shares in Luminar Technologies Inc. (LAZR), with 98.7M shares held by insiders accounting for 30.47% while institutional investors hold 21.71% of the company’s shares. The shares outstanding are 218.82M, and float is at 178.52M with Short Float at 4.98%. Institutions hold 15.09% of the Float.

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The top institutional shareholder in the company is Canvas GP 1, LLC with over 6.91 million shares valued at $234.85 million. The investor’s holdings represent 3.16% of the LAZR Shares outstanding. As of Dec 30, 2020, the second largest holder is IDG China Venture Capital Fund IV Associates, LP with 1.5 million shares valued at $50.97 million to account for 0.69% of the shares outstanding. The other top investors are Zeal Asset Management Ltd which holds 0.87 million shares representing 0.40% and valued at over $29.65 million, while Hitchwood Capital Management LP holds 0.32% of the shares totaling 0.7 million with a market value of $23.8 million.

Luminar Technologies Inc. (NASDAQ: LAZR) is -33.74% lower on its value in year-to-date trading and has touched a low of $9.87 and a high of $47.80 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The LAZR stock was last observed hovering at around $25.00 in the last trading session, with the day’s loss setting it -2.47% off its average median price target of $37.50 for the next 12 months. It is also 43.67% off the consensus price target high of $40.00 offered by 6 analysts, but current levels are 6.12% higher than the price target low of $24.00 for the same period.

Currently trading at $22.53, the stock is -13.98% and -23.32% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.52 million and changing -9.88% at the moment leaves the stock 17.01% off its SMA200. LAZR registered 130.84% gain for a year compared to 6-month gain of 109.00%. The firm has a 50-day simple moving average (SMA 50) of $27.43 and a 200-day simple moving average (SMA200) of $22.99.

The stock witnessed a 3.61% loss in the last 1 month and extending the period to 3 months gives it a -25.02%, and is -4.61% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.46% over the week and 9.07% over the month.

Luminar Technologies Inc. (LAZR) has around 3 employees, a market worth around $7.26B and $17.32M in sales. Distance from 52-week low is 128.27% and -52.87% from its 52-week high.

Luminar Technologies Inc. (LAZR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Luminar Technologies Inc. (LAZR) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.20, where 2 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Luminar Technologies Inc. quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $3.5M over the same period.

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