Where Does Luminar Technologies Stand After Today's Surge

Luminar Technologies stock is trading -40.22% below its average target price of $11.59 after marking a 5.9% during today's morning session. Analysts are giving the mid-cap Data Processing Services company an average rating of buy and target prices ranging from $4.5 to $19.0 per share.

The stock has an unusually large proportion of its shares sold short at 25.9%, and a short ratio of 9.26. Since 13.25% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 56.6% of Luminar Technologies's shares being owned by this investor type.

Institutions Invested in Luminar Technologies

Date Reported Holder Percentage Shares Value
2023-03-31 Vanguard Group, Inc. (The) 8% 22,719,541 $157,412,343
2023-03-31 Blackrock Inc. 6% 17,803,237 $123,349,730
2023-03-31 G2VP I Associates, LLC 4% 10,598,865 $73,434,238
2023-03-31 Macquarie Group Limited 3% 7,745,035 $53,661,476
2023-03-31 Moore Capital Management, LP 2% 6,939,023 $48,077,022
2023-03-31 Citadel Advisors Llc 2% 6,288,957 $43,573,039
2023-03-31 State Street Corporation 2% 5,351,536 $37,078,118
2023-03-31 Geode Capital Management, LLC 2% 4,827,946 $33,450,424
2023-03-31 Vantage Investment Partners, LLC 1% 3,834,994 $26,570,756
2023-03-31 Renaissance Technologies, LLC 1% 3,498,300 $24,237,972

Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Luminar Technologies.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.