Luminar TechnologiesNASDAQ: LAZR

MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Luminar Media Group, Inc. (OTCMARKETS: LRGR), a small business revenue-based finance company with a focus on Hispanic and minority-owned businesses, has released its financial results for the 3rd Quarter of 2024. The report highlights substantial growth across key financial and operational metrics, further solidifying Fortun's expanding presence in providing essential capital to underserved markets.

Luminar Technologies, Inc. (LAZR) closed the most recent trading day at $0.91, moving -0.94% from the previous trading session.

Luminar Technologies shares jumped after the Biden administration proposed restrictions on Russian and Chinese vehicle software. The U.S. is pushing to ban software and hardware from China and Russia, hoping to protect the U.S. auto industry and the autonomous driving sector.

Luminar Technologies , a maker of lidar sensors for self-driving cars, said on Monday it has cut about 30% of its workforce since the beginning of 2024, from the previously announced 20%, as part of a restructuring plan.

In the closing of the recent trading day, Luminar Technologies, Inc. (LAZR) stood at $0.79, denoting a -0.03% change from the preceding trading day.

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 sell-side) analysts often affect a stock's price, do they really matter?

Luminar Technologies (LAZR) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

Luminar Technologies, Inc. continues to face delays in revenue growth due to production issues with Volvo, falling short of quarterly revenue targets. Despite struggles, the Luminar Semiconductor unit shows promise with over 100 customers and $100+ million in external lifetime orders. The company raised $100 million in capital and extended debt maturities, but faces challenges with high interest rates and the need for additional funding to reach profitability.

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.