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Luminar Technologies Inc (LAZR) Stock Could Soon Reward Patient Investors

Luminar Technologies Inc (NASDAQ: LAZR) is -30.86% lower on its value in year-to-date trading and has touched a low of $2.09 and a high of $10.55 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 $2.39 in the last trading session, with the day’s loss setting it -0.06%.

Currently trading at $2.33, the stock is -10.97% and -17.19% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.27 million and changing -2.51% at the moment leaves the stock -49.56% off its SMA200. LAZR registered -74.28% loss for a year compared to 6-month loss of -61.04%. The firm has a 50-day simple moving average (SMA 50) of $21.30 and a 200-day simple moving average (SMA200) of -$2.36.

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The stock witnessed a -14.34% gain in the last 1 month and extending the period to 3 months gives it a -4.31%, and is 6.39% 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 9.51% over the week and 8.11% over the month.

Luminar Technologies Inc (LAZR) has around 800 employees, a market worth around $936.54M and $69.78M in sales. Profit margin for the company is -818.68%. Distance from 52-week low is 11.48% and -77.91% from its 52-week high. The company has generated returns on investments over the last 12 months (-134.18%).

Luminar Technologies Inc quarterly earnings per share for the current quarter are estimated at -$0.2 with sales reaching $23.98M over the same period.The EPS is expected to grow by 20.29% this year, but quarterly earnings will post 103.60% year-over-year.

Luminar Technologies Inc (LAZR) Top Institutional Holders

339 institutions hold shares in Luminar Technologies Inc (LAZR), with institutional investors hold 49.95% of the company’s shares. The shares outstanding are 322.74M, and float is at 256.52M with Short Float at 35.28%. Institutions hold 45.34% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 23.49 million shares valued at $161.61 million. The investor’s holdings represent 8.01% of the LAZR Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 19.41 million shares valued at $133.51 million to account for 6.62% of the shares outstanding. The other top investors are G2VP I Associates, LLC which holds 10.6 million shares representing 3.61% and valued at over $72.92 million, while Moore Capital Management, LP holds 2.67% of the shares totaling 7.84 million with a market value of $53.93 million.

Luminar Technologies Inc (LAZR) Insider Activity

A total of 9 insider transactions have happened at Luminar Technologies Inc (LAZR) in the last six months, with sales accounting for 2 and purchases happening 7 times. The most recent transaction is an insider sale by Prescott Alan,the company’sChief Legal Officer. SEC filings show that Prescott Alan sold 42,171 shares of the company’s common stock on Sep 06 at a price of $5.57 per share for a total of $0.23 million. Following the sale, the insider now owns 1.47 million shares.

Luminar Technologies Inc disclosed in a document filed with the SEC on Sep 06 that Fennimore Thomas (Chief Financial Officer) sold a total of 18,305 shares of the company’s common stock. The trade occurred on Sep 06 and was made at $5.57 per share for $0.1 million. Following the transaction, the insider now directly holds 0.69 million shares of the LAZR stock.

Still, SEC filings show that on Jun 05, Prescott Alan (Chief Legal Officer) disposed off 37,433 shares at an average price of $7.21 for $0.27 million. The insider now directly holds 1,509,453 shares of Luminar Technologies Inc (LAZR).

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