Deutsche Bank Aktiengesellschaft Reaffirms “Hold” Rating for Luminar Technologies (NASDAQ:LAZR)

Deutsche Bank Aktiengesellschaft reaffirmed their hold rating on shares of Luminar Technologies (NASDAQ:LAZR) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm currently has a $1.00 target price on the stock.

Several other equities analysts have also commented on LAZR. Westpark Capital reiterated a buy rating and set a $9.00 price objective on shares of Luminar Technologies in a research report on Tuesday, August 6th. Citigroup lowered their price objective on shares of Luminar Technologies from $9.00 to $6.00 and set a buy rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. lowered their price objective on shares of Luminar Technologies from $8.00 to $6.00 and set an overweight rating for the company in a research report on Monday, August 19th. The Goldman Sachs Group lowered their price objective on shares of Luminar Technologies from $1.50 to $1.00 and set a sell rating for the company in a research report on Thursday, July 11th. Finally, Rosenblatt Securities lowered their price objective on shares of Luminar Technologies from $3.00 to $2.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Luminar Technologies has an average rating of Hold and a consensus target price of $3.74.

Luminar Technologies Stock Performance

Shares of NASDAQ:LAZR opened at $0.85 on Tuesday. The firm has a fifty day moving average price of $1.26 and a 200 day moving average price of $1.53. Luminar Technologies has a fifty-two week low of $0.73 and a fifty-two week high of $5.27. The firm has a market cap of $377.18 million, a price-to-earnings ratio of -0.62 and a beta of 1.61.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. During the same quarter in the prior year, the company posted ($0.37) EPS. Luminar Technologies’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Luminar Technologies will post -1 earnings per share for the current year.

Institutional Investors Weigh In On Luminar Technologies

Institutional investors have recently made changes to their positions in the company. Optas LLC bought a new stake in shares of Luminar Technologies in the 2nd quarter worth about $26,000. Invst LLC purchased a new position in Luminar Technologies in the 2nd quarter worth about $28,000. Evergreen Wealth Solutions LLC purchased a new position in Luminar Technologies in the 1st quarter worth about $39,000. 180 Wealth Advisors LLC increased its stake in Luminar Technologies by 27.0% in the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock worth $39,000 after buying an additional 5,592 shares during the period. Finally, Algert Global LLC purchased a new position in Luminar Technologies in the 2nd quarter worth about $42,000. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Company Profile

Luminar Technologies, Inc, an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Advanced Technologies and Services. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors or lidars, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.