In yesterday’s Wall Street session, Luminar Technologies Inc (NASDAQ:LAZR) shares traded at $1.72, down -0.58% from the previous session.
LAZR stock price is now 1.71% away from the 50-day moving average and -46.85% away from the 200-day moving average. The market capitalization of the company currently stands at $766.47M.
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With the price target reduced from $3.50 to $1.20, BofA Securities Downgraded its rating from Neutral to Underperform for Luminar Technologies Inc (NASDAQ: LAZR). On January 17, 2024, Deutsche Bank Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $11 to quote $4, while ‘BofA Securities’ rates the stock as ‘Neutral’
In other news, Prescott Alan, Chief Legal Officer sold 42,171 shares of the company’s stock on Sep 06 ’23. The stock was sold for $234,682 at an average price of $5.57. Upon completion of the transaction, the Chief Legal Officer now directly owns 1,467,282 shares in the company, valued at $2.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 06 ’23, Chief Financial Officer Fennimore Thomas sold 18,305 shares of the business’s stock. A total of $101,867 was realized by selling the stock at an average price of $5.57. This leaves the insider owning 692,699 shares of the company worth $1.19 million. A total of 33.21% of the company’s stock is owned by insiders.
During the past 12 months, Luminar Technologies Inc has had a low of $1.21 and a high of $8.32.
According to the Auto Parts Company, earnings per share came in at -0.21, beating analysts’ expectations of -0.23 by 0.02. This compares to -$0.40 EPS in the same period last year. The net profit margin was -721.70% and return on equity was -2424.67% for LAZR. The company reported revenue of $20.97 million for the quarter, compared to $14.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 44.52 percent. For the current quarter, analysts expect LAZR to generate $20.36M in revenue.
