A company insider recently bought 25,000 shares of Luminar Technologies Inc. [LAZR]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Luminar Technologies Inc. shares valued at $246,818 were purchased by Russell Austin on Sep 20. At $9.87 per share, Russell Austin acquired 25,000 shares. The insider’s holdings grew to 1,030,000 shares worth approximately $9.65 million following the completion of this transaction.

Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .


Also, Russell Austin purchased 25,000 shares, netting a total of over 234,870 in proceeds. Following the buying of shares at $9.39 each, the insider now holds 1,005,000 shares.

Before that, Russell Austin had added 25,000 shares to its account. In a trade valued at $229,582, the Chairperson, President & CEO bought Luminar Technologies Inc. shares for $9.18 each. Upon closing the transaction, the insider’s holdings increased to 25,000 shares, worth approximately $9.18 million.

As published in their initiating research note from JP Morgan on September 20, 2022, Luminar Technologies Inc. [LAZR] has been an Overweight and the price target has been revised to $30. This represents a 68.77% premium over Wednesday’s closing price. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid April. As of March 29, 2022, SMBC Nikko has initiated its “Neutral” rating for LAZR. Earlier on February 01, 2022, Goldman initiated its rating. Their recommendation was “a Neutral” for LAZR stock.

Analyzing LAZR’s Price Performance

On Wednesday, Luminar Technologies Inc. [NASDAQ: LAZR] plunged -1.68% to $9.37. The stock’s lowest price that day was $9.355, but it reached a high of $9.87 in the same session. During the last five days, there has been a surge of approximately 5.40%. Over the course of the year, Luminar Technologies Inc. shares have dropped approximately -44.59%. Shares of the company reached a 52-week high of $18.16 on 01/05/22 and a 52-week low of $5.61 on 07/13/22. A 50-day SMA is recorded $8.27, while a 200-day SMA reached $11.64. Nevertheless, trading volume fell to 10.65 million shares from 13.93 million shares the previous day.

Support And Resistance Levels for Luminar Technologies Inc. (LAZR)

According to the 24-hour chart, there is a support level at 9.19, which, if violated, would cause prices to drop to 9.02. In the upper region, resistance lies at 9.71. The next price resistance is at 10.05. RSI (Relative Strength Index) is 55.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.40, which suggests the price will decrease in the coming days. Percent R is at 29.44%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Luminar Technologies Inc. subject to short interest?

Stocks of Luminar Technologies Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.55 million shares to 48.99 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 42.44 million shares. A jump of 13.37% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.18 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.18.

Which companies own the most shares of Luminar Technologies Inc. (LAZR)?

According to The Vanguard Group, Inc. filings, the company currently owns 18,224,732 shares, which is about 6.99% of the total LAZR shares outstanding. The investor’s shares have plunged by -763,661 from its previous 13-F filing of 18988393.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $113,747,055. GIC Pte Ltd. reduced a -0.24% interest valued at $98.47 million while Macquarie Investment Management B purchased a 29,493 stake. A total of 0 shares of Luminar Technologies Inc. were bought by Vantage Investment Partners LLC during the quarter, and 2,991,427 were bought by SSgA Funds Management, Inc. In its current portfolio, Moore Capital Management LP holds 4,399,860 shares valued at $37.93 million.

In terms of Luminar Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $15.17 in the next 12 months, up nearly 46.9% from the previous closing price of $9.53. Analysts anticipate Luminar Technologies Inc. stock to reach $30.00 by 2022, with the lowest price target being $8.00. In spite of this, 12 analysts ranked Luminar Technologies Inc. stock as an Overweight at the end of 2022. On January 27, 2022, Jefferies assigned a price target of “a Buy” to the stock and initiated coverage with a $20.


Please enter your comment!
Please enter your name here