Luminar Technologies (LAZR) shares are trading at higher $40.88.
To add more color to this target, the company’s high over the last year is $34.44 and the low is $9.45. Over the last 52 weeks, LAZR is up 306.77% while the S&P 500 is up 17.22%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
Find out when LAZR reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. LAZR has a short ratio of 0.39 and outstanding shares of 50.00M.
LAZR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 21.91 million and more growth is possible in the weeks ahead. Investors should also keep an eye on sector updates as LAZR has historically followed its peers on positive news.
All told, Luminar Technologies LAZR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, LAZR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Luminar Technologies LAZR is now commanding a market cap of 1.02B and a float of 20.00M. LAZR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of LAZR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in LAZR, either long or short, and we have not been compensated for this article.