This story originally appeared on Zacks
Luminar Technologies, Inc. (LAZR) closed at $14.84 in the latest trading session, marking a +0.27% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.37%.
Prior to today’s trading, shares of the company had lost 6.09% over the past month. This has was narrower than the Auto-Tires-Trucks sector’s loss of 16.74% and lagged the S&P 500’s loss of 6.01% in that time.
Luminar Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 28, 2022.
Any recent changes to analyst estimates for Luminar Technologies, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.72% lower. Luminar Technologies, Inc. currently has a Zacks Rank of #4 (Sell).
The Automotive – Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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