Luminar Technologies, Inc. (NASDAQ:LAZR) Given Average Rating of “Hold” by Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $3.74.

A number of brokerages have recently weighed in on LAZR. Rosenblatt Securities lowered their target price on Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.00 price target on shares of Luminar Technologies in a research report on Tuesday, September 10th. Citigroup cut their price objective on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 16th. The Goldman Sachs Group decreased their price objective on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 19th.

Institutional Investors Weigh In On Luminar Technologies

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Luminar Technologies by 27.9% in the fourth quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock valued at $117,000 after acquiring an additional 7,564 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Luminar Technologies during the fourth quarter worth approximately $55,000. Caz Investments LP boosted its stake in Luminar Technologies by 200.0% in the 4th quarter. Caz Investments LP now owns 120,000 shares of the company’s stock valued at $404,000 after purchasing an additional 80,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Luminar Technologies by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock valued at $86,627,000 after acquiring an additional 1,671,708 shares in the last quarter. Finally, Leo Wealth LLC bought a new position in Luminar Technologies during the fourth quarter worth about $43,000. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Trading Down 0.9 %

Shares of Luminar Technologies stock opened at $0.91 on Wednesday. The stock has a market capitalization of $405.38 million, a price-to-earnings ratio of -0.66 and a beta of 1.61. The firm’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.43. Luminar Technologies has a 1-year low of $0.73 and a 1-year high of $4.62.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. During the same quarter last year, the company earned ($0.37) earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that Luminar Technologies will post -0.97 EPS for the current year.

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.