Luminar Technologies Inc.’s filing revealed that its Chief Legal Officer Prescott Alan unloaded Company’s shares for reported $0.27 million on Jun 05. In the deal valued at $7.21 per share,37,433 shares were sold. As a result of this transaction, Prescott Alan now holds 1,509,453 shares worth roughly $ 8.41 million.
Then, Fennimore Thomas sold 16,543 shares, generating $119,263 in total proceeds. Upon selling the shares at $7.21, the Chief Financial Officer now owns 711,004 shares.
Before that, Russell Austin bought 791,113 shares. Luminar Technologies Inc. shares valued at $4,841,849 were divested by the Chairperson, President & CEO at a price of $6.12 per share. As a result of the transaction, Russell Austin now holds 4,596,798 shares, worth roughly $25.6 million.
TD Cowen reiterated its Luminar Technologies Inc. [LAZR] rating to an Outperform in a research note published on Friday, May 10, 2023; the price target was $10. PT values the company’s stock at a premium of 44.3 to its Friday closing price.
Price Performance Review of LAZR
On Friday, Luminar Technologies Inc. [NASDAQ:LAZR] saw its stock jump 0.91% to $5.57. On the same session, the stock had its day’s lowest price of $5.53, but rose to a high of $5.73. Over the last five days, the stock has lost -3.80%. Luminar Technologies Inc. shares have risen nearly 12.53% since the year began. Nevertheless, the stocks have fallen -37.49% over the past one year. While a 52-week high of $10.55 was reached on 03/06/23, a 52-week low of $3.91 was recorded on 01/06/23. SMA at 50 days reached $6.70, while 200 days put it at $6.75. A total of 2.96 million shares were traded, compared to the trading of 6.09 million shares in the previous session.
Levels Of Support And Resistance For LAZR Stock
The 24-hour chart illustrates a support level at 5.49, which if violated will result in even more drops to 5.41. On the upside, there is a resistance level at 5.69. A further resistance level may holdings at 5.81. The Relative Strength Index (RSI) on the 14-day chart is 35.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.67%. Stochastics %K at 9.99% indicates the stock is a buying.
How much short interest is there in Luminar Technologies Inc.?
A steep rise in short interest was recorded in Luminar Technologies Inc. stocks on Aug 14, 2023, growing by 5.05 million shares to a total of 69.58 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 64.53 million shares. There was a rise of 7.26%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 24.50% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.99.
According to FactSet, Luminar Technologies Inc.’s share price will average $12.32 in the next year, based on opinions of analysts polled by the firm. This is up nearly 117.39 percent from its previous closing price of $5.52. Analysts expect Luminar Technologies Inc. stock to reach the higher price of $20.00, while the lowest price estimate is $4.50. However, 11 analysts have rated LAZR stock as an Overweight in their predictions for 2023.