Luminar Technologies Stock: Buy, Sell, or Hold?
Luminar Technologies (LAZR -3.46%), a developer of commercial automotive lidars, went public by merging with a special purpose acquisition company (SPAC) four years ago. The combined company's shares opened at $354.75 on the first day, soared to a record high of $627 just five days later, but now trade at about $6.
Luminar Stock Investors: Here's What You Need To Know About This Driverless Technology Stock
Luminar (LAZR 11.14%) believes driverless cars must be equipped with lidar to operate effectively.
What's Going on With Luminar Stock?
Luminar Technologies (LAZR -7.83%) announced an expanding relationship with Volvo for its driverless car tech.
Luminar: Navigating Around The Difficult Near Term Headwinds
Luminar's Q3 2024 results were mixed, with an 8.6% revenue decline. This drop is attributed to a re-negotiated non-automotive contract, not affecting future growth reliant on LiDAR system adoption. Sensor sales increased quarter over quarter, boosted by Volvo's EX 90 production, a key catalyst for Luminar's sustained revenue growth. Despite current challenges, Luminar's long-term prospects remain promising, with Volvo ramping up EX 90 deliveries in late 2024 and early 2025.
Why Luminar Technologies' Shares Are Getting Zapped Today
Why Luminar Technologies' Shares Are Getting Zapped Today
Luminar: Sell Before Reverse Split
Luminar Technologies' stock has fallen nearly 98% from its 2020 peak due to missed revenue targets, large losses, and significant cash burn. Q3 revenues were $15.5 million, missing estimates by over $3.5 million, and this marked the fifth consecutive quarter of revenue shortfalls. Despite cost-cutting efforts, LAZR's cash burn remains high, with ongoing dilution coming from stock-based compensation and equity sales.
Luminar: Progress, But The Market Wants More
Luminar Technologies, Inc. is making progress with new deals, but financials remain weak, requiring patience for long-term gains. Volvo's EX90 production ramp and a second model with Iris LiDAR promise future revenue growth, despite current low sales. Luminar's insurance program could offer significant savings, potentially making LiDAR cost-effective for consumers.
Why Luminar Stock Surged Today
Luminar's Q3 sales came in way below Wall Street's expectations. So why did the stock rally?
Luminar Technologies Q3: Progressing Slowly, But I Am Cautiously Optimistic
Luminar Technologies, Inc.'s Q3 results were mixed, with product revenue growth but a significant decline in services revenue, leading to a hold rating. Luminar has strong partnerships with top auto manufacturers, but demand for its LiDAR technology is still in its infancy. Financially, LAZR has substantial cash reserves but also significant debt, and share dilution remains a concern for future capital needs.
Luminar Technologies, Inc. (LAZR) Q3 2024 Earnings Call Transcript
Luminar Technologies, Inc. (NASDAQ:LAZR ) Q3 2024 Earnings Call Transcript November 11, 2024 5:00 PM ET Company Participants Yarden Amsalem - Senior Manager of IR Austin Russell - Founder and CEO Tom Fennimore - CFO Conference Call Participants Winnie Dong - Deutsche Bank John Babcock - Bank of America Jash Patwa - JPMorgan Mark Delaney - Goldman Sachs Kevin Cassidy - Rosenblatt Tristan Gerra - Baird Operator My name is Yarden Amsalem, and I'm Luminar's Senior Manager of Investor Relations, covering for Aileen Smith while she is on maternity leave. With me today are Austin Russell, Luminar's Founder and Chief Executive Officer; and Tom Fennimore, our Chief Financial Officer.
Luminar Technologies, Inc. (LAZR) Reports Q3 Loss, Misses Revenue Estimates
Luminar Technologies, Inc. (LAZR) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.21 per share a year ago.
Luminar Technologies, Inc. (LAZR) Advances While Market Declines: Some Information for Investors
In the most recent trading session, Luminar Technologies, Inc. (LAZR) closed at $0.81, indicating a +1.33% shift from the previous trading day.
