The latest trading session saw Luminar Technologies, Inc. (LAZR) ending at $0.79, denoting a -0.03% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.7% for the day. On the other hand, the Dow registered a gain of 1.26%, and the technology-centric Nasdaq increased by 2.51%. The the stock of company has fallen by 18.92% in the past month, lagging the Auto-Tires-Trucks sector's gain of 2.47% and the S&P 500's gain of 1.27%. Market participants will be clos ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sellside) analysts often affect a stock's price, do they really matter? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Luminar Technologies, Inc. (LAZR) . Luminar Technologies currently has an ...

Shares of Luminar Technologies, Inc. (LAZR) have been struggling lately and have lost 39.7% over the past four weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts ...

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After today's big sell-off, Luminar stock is down 74% in 2024. Luminar Technologies (LAZR -37.36%) stock crashed in Wednesday's trading. The company's share price closed out the daily session down 37.4%, according to data from S&P Global Market Intelligence. Luminar published second-quarter results after the market closed yesterday, and delivered sales and earnings for the period that missed expectations. In addition to the Q2 misses, the company issued guidance that worried the market. With today's big sel ...

Paul Bradbury/OJO Images via Getty Images Investing in new technology companies can be very frustrating. A lot of times, there seems to be a great future ahead, but things don't always work out on time. A good example of this is automotive technology company Luminar Technologies, Inc. (NASDAQ:LAZR). The LIDAR firm has continually missed growth targets for its large revenue ramp, sending shares crashing in recent years. After the bell on Tuesday, the company announced the latest delay in its plans, along wit ...

Luminar Technologies, Inc. (LAZR) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.21 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 10%. A quarter ago, it was expected that this company would post a loss of $0.22 per share when it actually produced a loss of $0.19, delivering a surprise of 13.64%. Over the last four quarters, the company ha ...

Financial Performance - Q2 2024 revenue was $16.5 million, a 2% increase year-over-year but a 22% decrease quarter-over-quarter[4]. - Q2 2024 GAAP net loss was $(130.6) million, or $(0.29) per share, while non-GAAP net loss was $(81.1) million, or $(0.18) per share[4]. - Total revenue for Q2 2024 was $16,451,000, a decrease of 21.5% from $20,968,000 in Q1 2024, but an increase of 1.6% from $16,197,000 in Q2 2023[15]. - The net loss for Q2 2024 was $130,607,000, compared to a net loss of $125,714,000 in Q1 2024 and $141,756,000 in Q2 2023, showing a narrowing loss year-over-year[15]. - GAAP net loss for the three months ended June 30, 2024, was $130,607 thousand, compared to $141,756 thousand for the same period in 2023, representing a decrease of 7.6%[20]. - Non-GAAP net loss for the six months ended June 30, 2024, was $161,590 thousand, compared to $170,157 thousand for the same period in 2023, indicating a reduction of 5.3%[20]. - The company reported a GAAP net loss per share of $(0.29) for the three months ended June 30, 2024, compared to $(0.37) for the same period in 2023, a decrease of 21.6%[20]. Cash and Liquidity - Luminar expects to increase year-end 2024 cash and liquidity guidance from over $150 million to over $240 million[5]. - Luminar's cash and liquidity at the end of Q2 2024 was $211.3 million, including marketable securities and an undrawn $50 million line of credit[4]. - Cash used in operating activities for the first six months of 2024 was $158,936,000, compared to $137,983,000 in the same period of 2023, indicating increased cash burn[16]. - The ending cash balance as of June 30, 2024, was $54,093,000, a decrease from $91,496,000 at the end of June 2023[16]. Revenue and Product Performance - Product revenue increased to $15,739,000 in Q2 2024, up from $15,302,000 in Q1 2024 and significantly higher than $9,923,000 in Q2 2023, indicating strong product demand[15]. - The anticipated revenue run-rate for FY 2024 has been shifted to the mid-$30 million range, now expected in FY 2025[5]. Operating Expenses - Operating expenses totaled $114,042,000 in Q2 2024, slightly down from $115,314,000 in Q1 2024, but lower than $125,557,000 in Q2 2023[15]. - Research and development expenses were $65,850,000 in Q2 2024, slightly down from $67,750,000 in Q1 2024, reflecting ongoing investment in innovation[15]. - GAAP operating expenses for the three months ended June 30, 2024, were $114,042 thousand, down from $125,557 thousand in the same period of 2023, a decrease of 9.1%[19]. - Non-GAAP operating expenses for the six months ended June 30, 2024, were $139,343 thousand, compared to $140,401 thousand for the same period in 2023, showing a slight decrease of 0.8%[19]. Debt and Capital Structure - Luminar restructured $422 million of debt, reducing convertible debt principal by approximately $148 million and raising $100 million in new capital[2]. - The company recognized a gain from the acquisition of EM4, Inc. amounting to $1,752,000 in Q1 2024, contributing positively to other income[15]. Workforce and Operational Changes - Luminar reduced its workforce by approximately 20% as it transitions to an asset-light industrialization model[3]. New Products and Innovations - The company achieved its production ramp for the first global production vehicle with standardized LiDAR and met key customer deliverables with Volvo[3]. - Luminar unveiled its next-generation LiDAR, Luminar Halo, and is on track for sample deliveries to select automakers by year-end 2024[3]. - The company launched its Sentinel software solution in Q2 2024, with first shipments expected by the end of Q3 2024[3].

It can often be difficult to identify these factors, and investors often find out too late. Additionally, dead cat bounces can often trick investors into believing that the fundamentals of the company have changed. Therefore, the ability to cut your losses is extremely important to safeguard your portfolio from further implosion. Luminar is a prominent player in the lidar sensor market for autonomous vehicles. Despite initial hype and promising partnerships from companies like Tesla (NASDAQ:TSLA), the compa ...

Coming into today, shares of the company had gained 6.29% in the past month. In that same time, the AutoTires-Trucks sector gained 16.17%, while the S&P 500 gained 4.08%. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.65 per share and a revenue of $114.48 million, representing changes of +25.29% and +64.06%, respectively, from the prior year. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To ut ...