Luminar Technologies Inc (LAZR) average volume reaches $0.91: Is Wall Street expecting a rally?

A new trading day began on Monday, with Luminar Technologies Inc (NASDAQ: LAZR) stock price down -1.37% from the previous day of trading, before settling in for the closing price of $2.91. LAZR’s price has ranged from $2.09 to $10.55 over the past 52 weeks.

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During the last 5-year period, the sales growth of Consumer Cyclical Sector giant was 41.77%. Meanwhile, its annual earnings per share averaged -9.44%. With a float of $256.52 million, this company’s outstanding shares have now reached $270.08 million.

Luminar Technologies Inc (LAZR) Insider Activity

As we move forward, let’s examine how large-scale investors are investing in this stock of the Auto Parts Industry. The insider ownership of Luminar Technologies Inc is 36.18%, while institutional ownership is 31.33%. The most recent insider transaction that took place on Sep 06, was worth 234,682. In this transaction Chief Legal Officer of this company sold 42,171 shares at a rate of $5.57, taking the stock ownership to the 1,467,282 shares. Before that another transaction happened on Sep 06, when Company’s Chief Financial Officer sold 18,305 for $5.57, making the entire transaction worth $101,867. This insider now owns 692,699 shares in total.

Luminar Technologies Inc (LAZR) Earnings and Forecasts

In its latest quarterly report, released on 9/29/2023, the company reported earnings of -$0.21 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.18 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around -9.44% per share during the next fiscal year.

Luminar Technologies Inc (NASDAQ: LAZR) Trading Performance Indicators

Here are Luminar Technologies Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 4.32. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 19.62.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -1.50, a number that is poised to hit -0.19 in the next quarter and is forecasted to reach -0.65 in one year’s time.

Technical Analysis of Luminar Technologies Inc (LAZR)

Looking closely at Luminar Technologies Inc (NASDAQ: LAZR), its last 5-days average volume was 5.71 million, which is a drop from its year-to-date volume of 7.2 million. As of the previous 9 days, the stock’s Stochastic %D was 67.38%. Additionally, its Average True Range was 0.23.

During the past 100 days, Luminar Technologies Inc’s (LAZR) raw stochastic average was set at 26.80%, which indicates a significant decrease from 62.37% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 103.40% in the past 14 days, which was higher than the 96.97% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $2.86, while its 200-day Moving Average is $4.83. However, in the short run, Luminar Technologies Inc’s stock first resistance to watch stands at $2.99. Second resistance stands at $3.10. The third major resistance level sits at $3.22. If the price goes on to break the first support level at $2.76, it is likely to go to the next support level at $2.64. Should the price break the second support level, the third support level stands at $2.53.

Luminar Technologies Inc (NASDAQ: LAZR) Key Stats

With a market capitalization of 1.15 billion, the company has a total of 401,955K Shares Outstanding. Currently, annual sales are 40,700 K while annual income is -445,940 K. The company’s previous quarter sales were 16,960 K while its latest quarter income was -134,340 K.