Luminar Technologies Inc (NASDAQ: LAZR)’s stock price has gone decline by -1.75 in comparison to its previous close of 2.00, however, the company has experienced a -6.43% decrease in its stock price over the last five trading days. InvestorPlace reported 2024-04-08 that AI stocks, biotech stocks, and renewable energy stocks dominate the list of most shorted stocks, but there also many consumer discretionary stocks short sellers are betting against. There is an excellent reason for this.
Is It Worth Investing in Luminar Technologies Inc (NASDAQ: LAZR) Right Now?
LAZR has 36-month beta value of 1.48. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for LAZR is 273.36M, and currently, short sellers hold a 30.65% ratio of that float. The average trading volume of LAZR on April 08, 2024 was 7.81M shares.
LAZR’s Market Performance
The stock of Luminar Technologies Inc (LAZR) has seen a -6.43% decrease in the past week, with a -5.07% drop in the past month, and a -39.91% fall in the past quarter. The volatility ratio for the week is 8.16%, and the volatility levels for the past 30 days are at 8.18% for LAZR. The simple moving average for the past 20 days is 5.69% for LAZR’s stock, with a -51.13% simple moving average for the past 200 days.
Analysts’ Opinion of LAZR
Many brokerage firms have already submitted their reports for LAZR stocks, with Deutsche Bank repeating the rating for LAZR by listing it as a “Hold.” The predicted price for LAZR in the upcoming period, according to Deutsche Bank is $4 based on the research report published on January 17, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see LAZR reach a price target of $5. The rating they have provided for LAZR stocks is “Neutral” according to the report published on September 26th, 2023.
TD Cowen gave a rating of “Outperform” to LAZR, setting the target price at $10 in the report published on May 10th of the previous year.
LAZR Trading at -14.11% from the 50-Day Moving Average
After a stumble in the market that brought LAZR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -76.38% of loss for the given period.
Volatility was left at 8.18%, however, over the last 30 days, the volatility rate increased by 8.16%, as shares sank -5.56% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.23% lower at present.
During the last 5 trading sessions, LAZR fell by -6.90%, which changed the moving average for the period of 200-days by -70.15% in comparison to the 20-day moving average, which settled at $1.85. In addition, Luminar Technologies Inc saw -41.69% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at LAZR starting from Prescott Alan, who sale 42,171 shares at the price of $5.57 back on Sep 06 ’23. After this action, Prescott Alan now owns 1,467,282 shares of Luminar Technologies Inc, valued at $234,682 using the latest closing price.
Fennimore Thomas, the Chief Financial Officer of Luminar Technologies Inc, sale 18,305 shares at $5.57 during a trade that took place back on Sep 06 ’23, which means that Fennimore Thomas is holding 692,699 shares at $101,867 based on the most recent closing price.
Stock Fundamentals for LAZR
Current profitability levels for the company are sitting at:
- -7.85 for the present operating margin
- -1.04 for the gross margin
The net margin for Luminar Technologies Inc stands at -8.2. The total capital return value is set at -1.28. Equity return is now at value -2424.67, with -95.24 for asset returns.
Based on Luminar Technologies Inc (LAZR), the company’s capital structure generated 1.52 points at debt to capital in total, while cash flow to debt ratio is standing at -0.37. The debt to equity ratio resting at -2.94. The interest coverage ratio of the stock is -49.59.
Currently, EBITDA for the company is -501.1 million with net debt to EBITDA at -1.01. When we switch over and look at the enterprise to sales, we see a ratio of 18.71. The receivables turnover for the company is 2.21for trailing twelve months and the total asset turnover is 0.14. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.18.
Conclusion
To put it simply, Luminar Technologies Inc (LAZR) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
