Taking a Closer Look At Luminar Technologies Inc. (LAZR) Following Its Recent Trade


Luminar Technologies Inc.’s recent filing unveils that its Chairperson, President & CEO Russell Austin acquired Company’s shares for reported $0.25 million on Sep 20. In the deal valued at $9.87 per share,25,000 shares were bought. As a result of this transaction, Russell Austin now holds 1,030,000 shares worth roughly $ 7.98 million.

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Then, Russell Austin bought 25,000 shares, generating $234,870 in total proceeds. Upon buying the shares at $9.39, the Chairperson, President & CEO now owns 1,005,000 shares.

Before that, Russell Austin bought 25,000 shares. Luminar Technologies Inc. shares valued at $229,582 were divested by the Chairperson, President & CEO at a price of $9.18 per share. As a result of the transaction, Russell Austin now holds 980,000 shares, worth roughly $7.59 million.

Rosenblatt initiated its Luminar Technologies Inc. [LAZR] rating to a Neutral in a research note published on Friday, October 25, 2022; the price target was $8. PT values the company’s stock at a premium of 3.12 to its Friday closing price. Northland Capital also remained covering LAZR and has decreased its forecast on September 22, 2022 with a “Market perform” recommendation from previously “an Outperform” rating. JP Morgan started covering the stock on September 20, 2022. It rated LAZR as “an Overweight”.

Price Performance Review of LAZR

On Friday, Luminar Technologies Inc. [NASDAQ:LAZR] saw its stock jump 4.31% to $7.75. On the same session, the stock had its day’s lowest price of $7.515, but rose to a high of $8.20. Over the last five days, the stock has lost -1.02%. Luminar Technologies Inc. shares have fallen nearly -54.17% since the year began. Nevertheless, the stocks have fallen -53.79% over the past one year. While a 52-week high of $23.90 was reached on 01/05/22, a 52-week low of $5.61 was recorded on 07/13/22. SMA at 50 days reached $7.99, while 200 days put it at $10.29. A total of 5.57 million shares were traded, compared to the trading of 7.55 million shares in the previous session.

Levels Of Support And Resistance For LAZR Stock

The 24-hour chart illustrates a support level at 7.44, which if violated will result in even more drops to 7.14. On the upside, there is a resistance level at 8.13. A further resistance level may holdings at 8.51. The Relative Strength Index (RSI) on the 14-day chart is 50.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.00%. Stochastics %K at 49.16% indicates the stock is a holding.

How much short interest is there in Luminar Technologies Inc.?

A steep rise in short interest was recorded in Luminar Technologies Inc. stocks on Jul 14, 2022, growing by 6.55 million shares to a total of 48.99 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 42.44 million shares. There was a rise of 13.37%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 20.01% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.18.

Luminar Technologies Inc. [LAZR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 18,224,732 shares, or roughly 6.99% of the outstanding LAZR shares. In other words, the investor’s shares have fallen by -763,661 from its previous 13-F filing of 18988393.0. Additionally, BlackRock Fund Advisors increased 281.02% of its stake after which the total value it holdings stand at $96,130,776, while GIC Pte Ltd. reduced -0.24% of its stake to hold $83.22 million in the firm. Over the last quarter, Macquarie Investment Management B purchased 29,493 shares of Luminar Technologies Inc., while Vantage Investment Partners LLC bought 0 shares. At present, Vaughan Nelson Investment Managem is holding 4,804,594 shares valued at $35.0 million. SSgA Funds Management, Inc. owned 4,570,495 shares of the company at the time of its most recent 13F filing, worth $33.3 million.

However, 13 analysts have rated LAZR stock as an Overweight in their predictions for 2022. The most recent change occurred on April 14, 2022 when Credit Suisse began covering the stock and recommended ‘”an Outperform”‘ rating along with a $22 price target.


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