NEW YORK - Luminar Technologies Inc (NASDAQ:LAZR), a player in the automotive sensor and software field, saw its stock price fall by 4.42% to $2.16 before making a modest recovery to close at $2.26 on Thursday. The company, known for its lidar technology used in autonomous vehicles, is currently valued at approximately $868 million. This valuation marks a stark contrast to its peak earlier in the year, signaling a significant decrease.
Despite the recent drop in stock price, Luminar's financial health shows a mix of challenges and growth. Insider ownership stands at 7%, and institutional holdings make up 35% of the company's stock, with Vanguard Group Inc. being the top institutional holder. The company has faced a substantial decline in its annual earnings growth rate, which plummeted by -647.93%. However, Luminar has managed to maintain a degree of momentum with a sales growth of 41.77% over the past five years.
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