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Luminar Technologies, Inc. (LAZR) Stock Sinks As Market Gains: Here's Why
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Luminar Technologies, Inc. (LAZR - Free Report) ended the recent trading session at $2.02, demonstrating a -5.16% change from the preceding day's closing price. This change lagged the S&P 500's 0.59% gain on the day. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 0.44%.
Shares of the company witnessed a gain of 21.02% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its gain of 12.44%, and the S&P 500's gain of 2.72%.
Investors will be eagerly watching for the performance of Luminar Technologies, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$1.08, marking a 55% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $17.59 million, reflecting a 13.56% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$4.5 per share and a revenue of $69.91 million, demonstrating changes of +51.3% and -7.28%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Luminar Technologies, Inc. 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 business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Luminar Technologies, Inc. holds a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 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.
To follow LAZR in the coming trading sessions, be sure to utilize Zacks.com.
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Luminar Technologies, Inc. (LAZR) Stock Sinks As Market Gains: Here's Why
Luminar Technologies, Inc. (LAZR - Free Report) ended the recent trading session at $2.02, demonstrating a -5.16% change from the preceding day's closing price. This change lagged the S&P 500's 0.59% gain on the day. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 0.44%.
Shares of the company witnessed a gain of 21.02% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its gain of 12.44%, and the S&P 500's gain of 2.72%.
Investors will be eagerly watching for the performance of Luminar Technologies, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$1.08, marking a 55% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $17.59 million, reflecting a 13.56% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$4.5 per share and a revenue of $69.91 million, demonstrating changes of +51.3% and -7.28%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Luminar Technologies, Inc. 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 business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Luminar Technologies, Inc. holds a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 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.
To follow LAZR in the coming trading sessions, be sure to utilize Zacks.com.