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Will Luminar Technologies Inc. (LAZR) benefit from Wall Street bulls Calls?

Luminar Technologies Inc. (NASDAQ: LAZR) is 23.84% higher on its value in year-to-date trading and has touched a low of $3.91 and a high of $16.80 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The LAZR stock was last observed hovering at around $6.02 in the last trading session, with the day’s gains setting it 0.11% off its average median price target of $12.50 for the next 12 months. It is also 74.46% off the consensus price target high of $24.00 offered by 12 analysts, but current levels are -22.6% lower than the price target low of $5.00 for the same period.

Currently trading at $6.13, the stock is 16.04% and -7.84% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 11.69 million and changing 1.83% at the moment leaves the stock -26.75% off its SMA200. LAZR registered -54.42% loss for a year compared to 6-month loss of -16.60%.

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The stock witnessed a -2.08% gain in the last 1 month and extending the period to 3 months gives it a -10.90%, and is 6.42% up 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 10.40% over the week and 9.69% over the month.

Luminar Technologies Inc. (LAZR) has around 500 employees, a market worth around $2.18B and $41.90M in sales. Distance from 52-week low is 56.78% and -63.51% from its 52-week high. The company has generated returns on investments over the last 12 months (-26.40%).

Luminar Technologies Inc. (LAZR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Luminar Technologies Inc. (LAZR) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.10, where 4 rate it as a Hold and 1 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Luminar Technologies Inc. is expected to release its quarterly report on 05/11/2023.The EPS is expected to grow by 73.00% this year.

Luminar Technologies Inc. (LAZR) Top Institutional Holders

The shares outstanding are 359.75M, and float is at 229.30M with Short Float at 24.13%.

Luminar Technologies Inc. (LAZR) Insider Activity

A total of 24 insider transactions have happened at Luminar Technologies Inc. (LAZR) in the last six months, with sales accounting for 4 and purchases happening 20 times. The most recent transaction is an insider purchase by AEG Holdings, LLC,the company’sDirector. SEC filings show that AEG Holdings, LLC bought 7,953 shares of the company’s common stock on Dec 16 at a price of $6.65 per share for a total of $52910.0. Following the purchase, the insider now owns 39569.0 shares.

Luminar Technologies Inc. disclosed in a document filed with the SEC on Dec 16 that Jepsen Mary Lou (Director) bought a total of 10,109 shares of the company’s common stock. The trade occurred on Dec 16 and was made at $6.66 per share for $67281.0. Following the transaction, the insider now directly holds 55584.0 shares of the LAZR stock.

Still, SEC filings show that on Dec 15, Tempesta Daniel David (Director) acquired 3,325 shares at an average price of $6.92 for $23017.0. The insider now directly holds 115,921 shares of Luminar Technologies Inc. (LAZR).

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