Brokerages Set Luminar Technologies, Inc. (NASDAQ:LAZR) PT at $3.40

Luminar Technologies, Inc. (NASDAQ:LAZR) has earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $3.34.

LAZR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.00 target price on shares of Luminar Technologies in a research note on Tuesday, September 10th. The Goldman Sachs Group cut their target price on shares of Luminar Technologies from $0.75 to $0.50 and set a “sell” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their price target 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. Rosenblatt Securities reiterated a “neutral” rating and set a $2.00 target price on shares of Luminar Technologies in a report on Wednesday, October 2nd. Finally, Craig Hallum lowered their target price on Luminar Technologies from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th.

Luminar Technologies Stock Down 4.9 %

Shares of NASDAQ:LAZR opened at $0.98 on Thursday. The stock has a market cap of $483.88 million, a PE ratio of -1.10 and a beta of 1.61. The company’s fifty day moving average is $0.86 and its 200 day moving average is $1.24. Luminar Technologies has a 52 week low of $0.73 and a 52 week high of $3.69.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The company had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same period last year, the firm earned ($0.33) earnings per share. Luminar Technologies’s revenue for the quarter was down 8.6% on a year-over-year basis. Sell-side analysts anticipate that Luminar Technologies will post -0.97 EPS for the current year.

Hedge Funds Weigh In On Luminar Technologies

Institutional investors have recently bought and sold shares of the business. PEAK6 Investments LLC bought a new position in Luminar Technologies during the 3rd quarter valued at about $25,000. Optas LLC bought a new position in Luminar Technologies in the 2nd quarter valued at $26,000. Invst LLC purchased a new stake in Luminar Technologies in the second quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Luminar Technologies during the third quarter worth $31,000. Finally, Tyler Stone Wealth Management boosted its stake in shares of Luminar Technologies by 70.5% during the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after purchasing an additional 15,300 shares during the period. Institutional investors own 30.99% of the company’s stock.

About Luminar Technologies

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.