Luminar Technologies, Inc. (LAZR) closed at $6.43 in the latest trading session, marking a +0.31% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.16%. Elsewhere, the Dow saw an upswing of 0.01%, while the tech-heavy Nasdaq appreciated by 0.46%.

Coming into today, shares of the company had gained 15.7% in the past month. In that same time, the Auto-Tires-Trucks sector lost 8.54%, while the S&P 500 lost 3.59%.

The investment community will be paying close attention to the earnings performance of Luminar Technologies, Inc. in its upcoming release. At the same time, our most recent consensus estimate is projecting a revenue of $17.16 million, reflecting a 18.17% fall from the equivalent quarter last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Luminar Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, there's been a 5.52% fall in the Zacks Consensus EPS estimate. Currently, Luminar Technologies, Inc. is carrying a Zacks Rank of #5 (Strong Sell).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 154, finds itself in the bottom 39% echelons 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.

To follow LAZR in the coming trading sessions, be sure to utilize Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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