Rivian (RIVN) on Thursday said it was planning to integrate light detection and ranging (LiDAR) technology into future car models, putting the sector in the spotlight.
LiDAR uses laser pulses for detection and ranging and is installed in cars to help with the mapping of surroundings. Rivian (RIVN) said the technology will provide “detailed, three-dimensional spatial data” and improve “real-time detection for the edge cases of driving.”
Luminar Technologies (LAZR) was a company mentioned by Rivian (RIVN), sending class A shares of the LiDAR maker up +15.6%.
Including LAZR, Seeking Alpha took a look at major LiDAR manufacturers and ranked them by their Quant ratings. Luminar (LAZR) landed at the bottom of the list with a Strong Sell rating of 1.33.
AEye (LIDR) topped the list with a Hold rating of 3.38, followed by Ouster (OUST) with a Hold rating of 3.19. MicroVision (MVIS) and Hesai (HSAI) are tied with Hold ratings of 3.03, while Aeva Technologies (AEVA) rounds out the top five with a Hold rating of 3.02. The list also includes Innoviz Technologies (INVZ) and indie Semiconductor (INDI).
Note that Semilux (SELX) and Valeo (VLEEY) are not covered by Seeking Alpha’s Quant Rating system.
For reference, SA’s Quant system ranks stocks based on their performance on certain critical quantitative measures, such as valuation, growth, and profitability. Each stock is rated on a scale of 1 to 5, with any rating above 3.5 indicating a bullish rating. A score of 2.5 or below represents a bearish profile.
Here is the list:
- AEye (LIDR), Quant Rating: 3.38, Hold.
- Ouster (OUST), Quant Rating: 3.19, Hold.
- MicroVision (MVIS), Quant Rating: 3.03, Hold.
- Hesai Group (HSAI), Quant Rating: 3.03, Hold.
- Aeva Technologies (AEVA), Quant Rating: 3.02, Hold.
- Innoviz Technologies (INVZ), Quant Rating: 2.68, Hold.
- indie Semiconductor (INDI), Quant Rating: 2.63, Hold.
- Luminar Technologies (LAZR), Quant Rating: 1.33, Strong Sell.
Here are some semiconductor-focused exchange-traded funds: (SMH), (SOXX), (SOXL), (FTXL), (XSD), (USD), (PSI), and (SEMI).