To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. That data implies a 116% upside to the current share price.Your Request Originates from an Undeclared Automated Tool Joshua Buchalter from Cowen & Company sees compelling long-term value with shares down -34% year-to-date and maintains an ‘outperform’ rating on the stock.Īnalysts maintain an average ‘overweight’ rating with a $20.40 mean target price. The firm maintains the ‘outperform’ rating initiated in mid-April with a $22 target. They remain buyers of the stock with forecasts of revenue toward $400 million in 2024 and with a target price of $23.Ĭredit Suisse’s Dan Levy acknowledged the last quarter’s revenue decline was a negative, but he believes high spending supports the commercial opportunity ahead. We would expect that as revenue grows, the operating income will shift higher and should, in turn, see similar movements in the share price.Įmmanuel Rosner from Deutsche Bank reiterated his sentiment that LAZR remains the best-positioned LiDAR supplier to capture meaningful business wins for 元+ autonomy. On the other hand, we can see revenue growth on the top line. The chart illustrates share price movements that have performed in line with the companies operating income (trending downwards). We also noticed an interesting chart from the LAZR’s Financial Metrics page that we have included below. The stock has an Ownership Accumulation Score of 65.55, ranking it in the top 30% of stocks with the most institutional accumulation. Luminar Technologies (U.S.: LAZR) has 313 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). We noticed significant institutional ownership growth from mid-2021. Our interest piqued, we took a look into our Institutional Ownership data trove to determine investor sentiment for the volatile share price. Update Frequency for this score is daily. Numbers indicating a higher accumulation than its peers and 50 being the average. The number ranges from 0 to 100, with higher The scoring model combines the total increase in disclosed owners, the changes in portfolio allocations in those owners and other metrics. It’s apparent that Russell thinks that the market undervalues the shares.įintel calculates The Ownership Accumulation Score using a sophisticated, multifactor quantitative model to identify companies with the highest institutional accumulation. The metric can help identify companies with high management confidence before price movements reflect it. The score is a quant model designed to uncover significant buying by officers without a large price increase. The CEO’s recent accumulation lifted the company’s Ownership Accumulation to 88.70. “Luminar achieved two additional major commercial wins since the beginning of 2022 and is on track to meet or beat the 40% growth target.”.“Luminar is on track to release the beta version of Sentinel before the end of 2022.”.“Luminar remains on track to meet its goal to achieve series production readiness for Iris lidar and core software in 2022.”. In a press release, LAZR provided some updates on major FY22 milestones, noting that: Luminar said it had $706.9 million of cash and short-term securities on hand at quarter-end. The company reported weaker than expected revenue of $6.9 million, compared to Wall Street’s $8.3 million forecast. The monthly rout follows Thursday’s first quarter results that missed Wall Street expectations with a 16 cents a share loss, compared to a 13 cents a share loss analysts’ consensus estimate. LAZR shares fell 57% in the last year and 39% in the last month. In Luminar Technologies’ case, it appears both are at play. Senior management can sell shares for various reasons but generally only purchase stock when they believe the company is expected to grow or is undervalued. We first noticed the purchase when using the Fintel CEO Purchases screen. Russell now owns 455,000 shares in total that have a current value of ~$4.3 million. Russell disclosed the buy in a Form 4 filing with The U.S. Luminar Technologies chairman and CEO Austin Russell Wednesday said he purchased 300,000 LAZR shares at an average of $8.89 per share.
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