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Wednesday, December 6, 2023

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

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Luminar Technologies Inc (LAZR) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.01, or -0.28%, to $3.55. The Luminar Technologies Inc has recorded 26,484 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Luminar Achieves Critical Production Milestone for Volvo Cars Program.

Stocks Info

LAZR belongs to the Consumer Cyclical sector of the NASDAQ while operating in the Auto Parts industry. The current market capitalization of Luminar Technologies Inc is $1.39B. A total of 3.08 million shares were traded on the day, compared to an average of 4.89M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, LAZR has seen 7 BUY and 2 SELL insider trades, representing the acquisition of 89,266 and the disposition of 60,476 shares. Over the last 12 months, there were 26 BUYs and 8 SELLs from insiders. Insiders purchased 3,972,797 shares during that period but sold 252,241.

In the most recent transaction, Prescott Alan sold 42,171 shares of LAZR for 5.57 per share on Sep 06. After the transaction, the Chief Legal Officer now owns 1,467,282 company shares. In a previous transaction on Sep 06, Fennimore Thomas sold 18,305 shares at 5.57 per share. LAZR shares that Chief Financial Officer owns now total 692,699.

Among the insiders who sold shares, Prescott Alan disposed of 37,433 shares on Jun 05 at a per-share price of $7.21. This resulted in the Chief Legal Officer holding 1,509,453 shares of LAZR after the transaction. In another insider transaction, Fennimore Thomas sold 16,543 shares at $7.21 per share on Jun 05. Company shares held by the Chief Financial Officer now total 711,004.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for LAZR in the last 3 months, the mean price target is $11.12 with high estimates of $20.00 and low estimates of $3.50. In terms of 52-week highs and lows, LAZR has a high of $10.55 and a low of $3.03.

As of this writing, LAZR has an earnings estimate of -$0.22 per share for the current quarter. EPS was calculated based on a consensus of 11 estimates, with a high estimate of -$0.18 per share and a lower estimate of -$0.45. 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

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. 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 -$0.31, while its Total Shareholder’s Equity was $197.99M.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after 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 3.89.

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