Luminar Technologies, Inc. (LAZR) closed the most recent trading day at $6.16, moving +1.15% from the previous trading session. This move traded in line with S&P 500. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 11.35%.
Coming into today, shares of the company had gained 1.16% in the past month. In that same time, the Auto-Tires-Trucks sector gained 23.52%, while the S&P 500 gained 4.49%.
Luminar Technologies, Inc. will be looking to display strength as it nears its next earnings release. On that day, Luminar Technologies, Inc. is projected to report earnings of -$0.22 per share, which would represent a year-over-year decline of 83.33%. Meanwhile, our latest consensus estimate is calling for revenue of $12.88 million, up 4.4% from the prior-year quarter.
Any recent changes to analyst estimates for Luminar Technologies, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.05% lower. Luminar Technologies, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Automotive – Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Luminar Technologies, Inc. (LAZR) : Free Stock Analysis Report
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