The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The company also expects to end the year with cash, cash equivalents and marketable securities, including liquidity, of more than $300 million. “Over the past quarter, leading automakers have continued to expand our technology across their vehicle lineups, betting the future of their ADAS and autonomous roadmaps in partnership with Luminar,” said Russell in the earnings announcement.įor guidance, Luminar expects 100% revenue growth this year. Furthermore, the lidar company posted a non-GAAP EPS loss of 24 cents, which missed the analyst estimate for a loss of 21 cents. For the period, revenue tallied in at $14.51 million, up 112% year-over-year (YOY) and beating the analyst estimate for $11.94 million. Luminar reported its first-quarter earnings earlier this month.
It seems that the CEO may be employing a dollar-cost averaging ( DCA) strategy. Still, it’s notable that Austin’s single purchase of LAZR this year has already surpassed all of his purchases last year. Many of these shares were purchased in the $10 to $15 range, which means that Russell is sitting on heavy unrealized losses. During 2022, he purchased a total of 980,000 shares. Although his recent purchase was his first buy of 2023, the CEO disclosed buying LAZR stock many times last year. Russell is no stranger to buying shares of his own company.
In total, the transaction was valued at just under $200,000. On May 15, Heng purchased 33,750 shares priced at $5.91 apiece through his trust. Meanwhile, Luminar Director Jun Hong Heng also disclosed an insider purchase made on the same day as Russell’s buy. CEO Austin Russell Buys 1.3 Million Shares of LAZR Stock Austin Russell is an engineer, business leader, and self-driving industry pioneer as the Founder and CEO of Luminar Technologies (NASDAQ: LAZR), the global.
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