![]() ![]() Luminar is also building its software, which provides core sensor software, perception software, and sentinel. It provides Iris, a platform it sells to automotive companies like Polestar and Mercedes Benz. The technology’s goal is to promote vehicle safety as most of them embrace autonomous technologies. Luminar Technologies is a company building light detection and ranging sensor, also known a lidar. Luminar profitability concerns Copy link to section It remains ~88% below its all-time high, giving it a market cap of over $2.1 billion. The shares plunged to a low of $5.51, ~47% below the highest level this year. It is this reason that could see investor optimism for the LAZR stock continues to rise going into the next quarter.Luminar ( NASDAQ: LAZR) stock price is hovering near the lowest level since January as concerns about the company’s profitability continues. Current price change has pushed the stock 56.57% YTD, which shows the potential for further growth is there. (LAZR) stood at 16.69% of shares outstanding, with shares short rising to 61.43 million registered in May 30, 2023. The data shows that as of short interest in Luminar Technologies Inc. Also important is the data on short interest which shows that short shares stood at 63.62 million on Jun 29, 2023, giving us a short ratio of 9.28. The 1.30% of Luminar Technologies Inc.’s shares are in the hands of company insiders while institutional holders own 56.40% of the company’s shares. The company’s latest data on shares outstanding shows there are 370.74 million shares. (NASDAQ:LAZR), historical trading data shows that trading volumes averaged 8.79 million over the past 10 days and 7.55 million over the past 3 months. If we refocus on Luminar Technologies Inc. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category. Turning to the stock’s technical picture we see that short term indicators suggest on average that LAZR is a 100% Buy. Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Wall Street analysts have also projected the company’s year-on-year revenue for 2023 to grow to $86.84 million, representing a 113.40% jump on that reported in the last financial year. The average forecast suggests up to a 62.90% growth in sales growth compared to quarterly growth in the same period last fiscal year. Per the data, EPS growth is expected to be 1.30% for 2023 and 37.70% for the next financial year.Īnalysts have a consensus estimate of $16.18 million for the company’s revenue for the quarter, with a low and high estimate of $15 million and $17.8 million respectively. Analysts project the company’s earnings per share (EPS) to be -$0.23, which has seen fiscal year 2023 EPS growth forecast to increase to -$0.77 and about -$0.48 for fiscal year 2024. ![]() Luminar Technologies Inc.’s market cap currently stands at around $3.17 billion. Here are five of the best ways to profit from the AI boom. And investors like you always want to get in on the hottest stocks of tomorrow. And it's about to change everything we know about everything.Īccording to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. The artificial intelligence (AI) revolution is already here. ![]()
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