Analyzing Luminar Technologies Inc. (LAZR) After Recent Trading Activity


In a filing, Luminar Technologies Inc. revealed 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 $ 8.86 million.

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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 $26.98 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 41.3 to its Friday closing price.

Price Performance Review of LAZR

On Friday, Luminar Technologies Inc. [NASDAQ:LAZR] saw its stock jump 1.91% to $5.87. On the same session, the stock had its day’s lowest price of $5.745, but rose to a high of $5.94. Over the last five days, the stock has gained 5.39%. Luminar Technologies Inc. shares have risen nearly 18.59% since the year began. Nevertheless, the stocks have fallen -31.90% 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 $6.62, while 200 days put it at $6.70. A total of 4.39 million shares were traded, compared to the trading of 4.97 million shares in the previous session.

Levels Of Support And Resistance For LAZR Stock

The 24-hour chart illustrates a support level at 5.76, which if violated will result in even more drops to 5.66. On the upside, there is a resistance level at 5.96. A further resistance level may holdings at 6.05. The Relative Strength Index (RSI) on the 14-day chart is 44.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.17%. Stochastics %K at 44.40% 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 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.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 22,761,799 shares, or roughly 8.11% of the outstanding LAZR shares. In other words, the investor’s shares have risen by 702,828 from its previous 13-F filing of 22058971.0. Additionally, BlackRock Fund Advisors increased 12.46% of its stake after which the total value it holdings stand at $119,159,469, while Moore Capital Management LP added 12.97% of its stake to hold $58.01 million in the firm. At present, SSgA Funds Management, Inc. is holding 5,994,332 shares valued at $44.36 million. Geode Capital Management LLC owned 5,301,607 shares of the company at the time of its most recent 13F filing, worth $39.23 million.

According to FactSet, Luminar Technologies Inc.’s share price will average $11.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 90.97 percent from its previous closing price of $5.76. Analysts expect Luminar Technologies Inc. stock to reach the higher price of $20.00, while the lowest price estimate is $4.50. However, 12 analysts have rated LAZR stock as an Overweight in their predictions for 2023.


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