This story originally appeared on Zacks

In the latest trading session, Luminar Technologies, Inc. (LAZR) closed at $17.84, marking a -0.78% move from the previous day. This change lagged the S&P 500’s 0.06% loss on the day. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.

Heading into today, shares of the company had gained 22.73% over the past month, outpacing the Auto-Tires-Trucks sector’s gain of 9.8% and the S&P 500’s gain of 5.76% in that time.

Investors will be hoping for strength from Luminar Technologies, Inc. as it approaches its next earnings release.

Investors should also note any recent changes to analyst estimates for Luminar Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.83% higher within the past month. Luminar Technologies, Inc. is currently a Zacks Rank #4 (Sell).

The Automotive – Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Luminar Technologies, Inc. (LAZR): Free Stock Analysis Report
 
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