Luminar Technologies, Inc. (LAZR) ended the recent trading session at $5.49, demonstrating a -1.96% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.27%. Elsewhere, the Dow saw a downswing of 0.51%, while the tech-heavy Nasdaq appreciated by 0.03%.

The company's shares have seen a decrease of 5.88% over the last month, surpassing the Auto-Tires-Trucks sector's loss of 9.35% and falling behind the S&P 500's gain of 4.27%.

Market participants will be closely following the financial results of Luminar Technologies, Inc. in its upcoming release. The company is expected to report EPS of -$2.20, up 26.67% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $16.76 million, showing a 24.2% drop compared to the year-ago quarter.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Luminar Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Luminar Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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