The company says that it is on track for 60% year-over-year growth of its forward-looking order book in 2021. Moreover, the company has actually been executing reasonably well with winning new customers and bolstering its order book. However, financial results aren’t really important for Luminar at this point, as the company hasn’t commenced meaningful commercial operations just yet. The decline follows Luminar’s mixed Q3 2021 results, which saw its revenue fall slightly short of estimates, with EPS coming in line. This compares to the S&P 500 which has remained roughly flat over the same period. Luminar (NASDAQ:LAZR), a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by roughly 14% over the last week (five trading days). This pattern suggests that there is a lower chance of a rise in LAZR stock in the near term.īelow you’ll find our previous coverage of Luminar stock where you can track our view over time. After moving -17% or more over a twenty-one-day period, the stock rose in the next twenty-one days on 40% of the occasions.After moving -25% or more over a ten-day period, the stock rose in the next ten days on 80% of the occasions.After moving -15% or more over a five-day period, the stock rose in the next five days on 63% of the occasions.You can find more useful comparisons on Peer Comparisons.Ĭalculation of ‘Event Probability’ and ‘Chance of Rise’ using the data from the last one year Check out Luminar Stock Comparison With Peers to see how LAZR stock compares against peers on metrics that matter. While LAZR stock may see lower levels going forward, it is helpful to see how its peers stack up. See our analysis on Luminar Stock Chance of A Rise for more details. This historical pattern reflects 20 out of 50, or a mere 40% chance of a rise in LAZR stock over the coming month, implying that LAZR stock may not be a good bet in the near term. Out of 50 instances in the last year that LAZR stock saw a twenty-one-day fall of 17% or more, 20 of them resulted in LAZR stock rising over the subsequent one-month period (twenty-one trading days). ![]() ![]() ![]() Given that LAZR stock is down 17% over the last month, will it continue its downward trajectory, or is a rise imminent? Going by historical performance, there is a higher chance of a decline in LAZR stock over the next month. For perspective, EV bellwether Tesla stock is down by about 17% year-to-date in 2022. Separately, electric vehicle stocks, in general, have underperformed the market in recent weeks, due to rising bond yields and this could also be hurting Luminar. It’s possible that investors are a bit concerned about these transactions given that the company hasn’t started meaningful commercial operations yet, with profitability and positive cash flows likely several years away. Firstly, Luminar issued about $550 million worth of convertible debt last month, while buying back around $250 million of its stock. There are likely a couple of factors driving the recent sell-off. The stock also remains down by about 17% over the last month. Luminar stock (NASDAQ:LAZR), a company that develops lidar sensors for use in self-driving cars, has declined by roughly 15% over the last week (five trading days), underperforming the S&P 500 which was down by about 4%.
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