Automakers are pivoting at a faster than expected pace to electric vehicles, and self-driving technology, which is increasingly viewed as a default feature in premium EVs, should stand to gain traction. Secondly, a couple of other lidar stocks went public earlier this year, including Ouster and Innoviz, and this also likely reduced demand for Luminar stock, which was previously one of the few options available for investors looking to play the self-driving market.Īlthough valuing Luminar stock is somewhat tricky, given that it hasn’t started commercial operations yet, we think the risk-to-reward prospects are looking better following the big sell-off.
Firstly, investors have been rotating away from high-growth, futuristic stocks, such as Luminar, into cyclical stocks to play the post-Covid re-opening. The decline is driven by a couple of factors.
Luminar, a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by over 40% year-to-date and currently trades at levels of about $18 per share. Down 40% This Year, Is Luminar Stock A Buy? Luminar also acquired OptoGration, a company that designs and manufactures crucial InGaAs photodetector chips that go into the sensors.
#LUMINAR STOCK PRICE SERIES#
The company is also making progress with its production plans for its low-cost, mass-market Iris sensors, noting back in August that it had secured more than 85% of its series production supply chain. Luminar’s tech will also be standard on Volvo’s next-generation electric SUV. Luminar might be well-positioned in this market, given that it has production program partnerships with OEMs including Volvo, Daimler Trucks, and China’s largest auto company SAIC.
#LUMINAR STOCK PRICE SOFTWARE#
Luminar projects that the total addressable market for its sensor and software solutions will stand at about $150 billion by 2030. The automotive industry is pivoting at a faster than expected pace to electric vehicles due to mounting environmental concerns, and self-driving technology, which is increasingly viewed as a default feature in premium EVs, should stand to gain traction.
stock market and the mid-August public listing of AEye, another lidar player, which gives investors yet another option to gain exposure to the lidar market.Īlthough valuing a stock like Luminar is difficult, given that it hasn’t started meaningful commercial operations just yet, we think the risk-to-reward prospects are looking better at current levels. While the sell-off this year comes as investors have been rotating away from high-growth, futuristic stocks, such as Luminar, into cyclical stocks to play the post-Covid re-opening, the recent decline is likely due to a broader selloff in the U.S. The stock also remains down by about 47% year-to-date. Luminar, a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by about 6% over the last week, trading at $16.50 per share. Investing in Electric Vehicle Component Supplier Stocks can be a good alternative to play the growth in the EV market. A change of 13% or more over twenty-one trading days has an 11% event probability, which has occurred 22 times out of 209 in the last year.Įlectric vehicles are the future of transportation, but picking the right EV stocks can be tricky.Luminar stock rose 13% over the last twenty-one trading days (about one month), compared to the broader market (S&P500) which rose by 5.9%.
0 kommentar(er)
