Luminar Technologies (NASDAQ: LAZR), a company that specializes in lidar technology that helps self-driving vehicles detect their surroundings, went public in December and now trades at about $34 per share, almost 3.5x its offer price. Luminar: Which Lidar Stock Should You Pick? for an overview of the two companies’ valuation and fundamental performance in recent years.

While Luminar’s market capitalization of about $8 billion is somewhat high, considering that the company doesn’t have a manufacturing track record, and is likely to see competition increase with the likes of Intel’s INTC MobileEye looking to produce its own lidar sensors, the recent developments and the correction in the stock price mean that the risk to reward proposition for Luminar stock is looking a little better. While the company is expected to begin commercial deliveries next year, it expects to generate revenue of $25 million to $30 million in 2021. Luminar plans to grow this order book by over 40% this year. The company also continues to win more customers, with its forward-looking order book standing at $1.3 billion at the end of last year.