https://wccftech.com/a-price-target-hike-and-new-order-flow-from-volvo-luminar-lazr-is-well-positioned-to-upwardly-revise-its-order-book-and-raise-its-medium-term-revenue-outlook/

Luminar (NASDAQ:LAZR), a manufacturer of high-performance LiDAR sensors for autonomous vehicles, is gaining prominence among financial analysts on the basis of recent positive developments.

The CFO of Luminar, Tom Fennimore, stated in an interview with the Wall Street Journal that the company would become profitable in 2024. Moreover, Fennimore stressed that Luminar was currently pursuing a prudent strategy by conserving cash, aiming to end the current fiscal year with a greater cash balance than the one at the start of the year. Bear in mind that the LiDAR manufacturer had $485.7 million in cash and cash equivalents as of the 31st of December 2020.