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Wednesday, September 27, 2023

Analysts Point To Luminar Technologies Inc. (NASDAQ: LAZR) Growth In The Future

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for Luminar Technologies Inc. (LAZR) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.03, or -0.51%, to $5.84. The Luminar Technologies Inc. has recorded 16,454 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Luminar Reports Strong Second Quarter 2023 Business Update and Financials.

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Stocks Info

As a NASDAQ listed company, LAZR falls under the Consumer Cyclical sector while operating within the Auto Parts industry segment. At the end of the last regular session, the stock closed at $5.87 and fluctuated between $5.95 as its day high and $5.77 as its day low. The current market capitalization of Luminar Technologies Inc. is $2.25B. A total of 3.59 million shares were traded on the day, compared to an average of 6.69M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, LAZR has seen 6 BUY and 0 SELL insider trades, representing the acquisition of 191,130 and the disposition of 0 shares. Over the last 12 months, there were 19 BUYs and 8 SELLs from insiders. Insiders purchased 3,883,906 shares during that period but sold 232,530.

In the most recent transaction, Prescott Alan sold 37,433 shares of LAZR for 7.21 per share on Jun 05. After the transaction, the Chief Legal Officer now owns 1,509,453 company shares. In a previous transaction on Jun 05, Fennimore Thomas sold 16,543 shares at 7.21 per share. LAZR shares that Chief Financial Officer owns now total 711,004.

Among the insiders who bought shares, Russell Austin acquired of 791,113 shares on May 16 at a per-share price of $6.12. This resulted in the Chairperson, President & CEO holding 4,596,798 shares of LAZR after the transaction. In another insider transaction, Russell Austin bought 150,000 shares at $6.26 per share on May 16. Company shares held by the Chairperson, President & CEO now total 3,805,685.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for LAZR in the last 3 months, the mean price target is $11.88 with high estimates of $20.00 and low estimates of $4.50. In terms of 52-week highs and lows, LAZR has a high of $10.55 and a low of $3.91.

As of this writing, LAZR has an earnings estimate of -$0.19 per share for the current quarter. EPS was calculated based on a consensus of 10 estimates, with a high estimate of -$0.18 per share and a lower estimate of -$0.2. The company reported an EPS of -$0.24 in the last quarter, which was -14.30% lower than expectations of -$0.21.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. LAZR’s latest balance sheet shows that the firm has $792.12M in Cash & Short Term Investments as of fiscal 2021. There were $619.46M in debt and $39.00M in liabilities at the time. Its Book Value Per Share was -$0.34, while its Total Shareholder’s Equity was $197.99M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for LAZR is Buy with a score of 4.11.

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