The stock of Luminar Technologies Inc (NASDAQ:LAZR) last traded at $0.99, down -2.79% from the previous session.
LAZR stock price is now -32.48% away from the 50-day moving average and -53.22% away from the 200-day moving average. The market capitalization of the company currently stands at $489.56M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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 $1.45 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 $0.69 million. A total of 28.54% of the company’s stock is owned by insiders.
During the past 12 months, Luminar Technologies Inc has had a low of $0.79 and a high of $6.23. The fifty day moving average price for LAZR is $1.45932 and a two-hundred day moving average price translates $2.108705 for the stock.
The latest earnings results from Luminar Technologies Inc (NASDAQ: LAZR) was released for 2024-06-30. The company reported revenue of $16.45 million for the quarter, compared to $16.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.57 percent. For the current quarter, analysts expect LAZR to generate $18.97M in revenue.
