LAZR Stock Sheds Over 34%, Is a Reversal Impossible?

LAZR stock declined steadily over the past one year. A drop of 34.35% in the trading price was recorded between September 7 2022 and September 7 2023. In the 52 weeks time frame, the price of LAZR stock peaked at $10.55 while the lowest trading price was $3.91.

Will LAZR Stock Continue to Decline? 

Luminar Technologies, Inc has a market capitalization of $2.194 Billion. A surge of 22% is seen in the market cap in 2023 compared to market cap in 2022. LAZR shares have an annual price target of $11.88, which is around 111% higher than its current trading price.

In the weekly time frame, LAZR stock price slipped over 7.72% and declined by a sharp 20.85% in a month. Excluding YTD, LAZR stock has reflected a significant decline in all other time frames. 

LAZR Stock Sheds Over 34%, Is a Reversal Impossible?
Source: LAZR stock price chart from TradingView 

The MACD indicator is reflecting negativity and a significant amount of buyers seem to be accumulating per the histogram. However, the volume on the price chart suggests that the sellers are in majority.

The RSI line and RSI based MA line crossed each other at positive 40. However, the RSI indicator reflects negativity and suggests that LAZR stock price will consolidate in between specific ranges. 

At the time of publication, LAZR stock was trading below 20,50,100 and 200 day EMAs. Market analysts believe that if any stock is trading below 20 day EMA, then it is likely that it will take a long time to recover. 

Data on TradingView shows that 243.256 Million LAZR shares are free floating and remaining 17.06% are closely held. Luminar Technologies, Inc. offers Autonomy Solutions and Advanced Technologies and Services. 

Luminar Technologies, Inc Financial Updates 

Post analyzing the financial position of the company, it is noted that Luminar Technologies, Inc has $132.74 Million in assets and its liabilities are $636.19 Million. 

Luminar Technologies, Inc. reported extra revenue and EPS than the estimated figures. The estimated revenue of the company was $16.18 Million and EPS was negative $0.23. 

For the third quarter estimated revenue is $19.59 Million and the EPS is negative $0.19. It is important to note that Luminar Technologies, Inc reported 3.37% less revenue in 2022 than the estimated figures. 

The gross profit in the past year was -148%, earnings before interest, taxes, depreciation, and amortization was -1106%,Earnings before interest and taxes (EBIT) was -1135% and net income was -1096%.

Technical Levels

Major Support: $4.72 and $5.34 

Major Resistance: $6.23 and $6.56


LAZR stock seems to be in trouble since the last quarter of 2022. It lost a significant amount of its trading price in the past 52 weeks. As per market analysts, LAZR stock might trade or consolidate below $10 and a surge might be likely at the end of September 2023.


The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

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