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

Luminar Technologies, Inc. (NASDAQ:LAZR) has been given an average rating of “Hold” by the eight analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $50.06.

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a report on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on shares of Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Rosenblatt Securities restated a “neutral” rating and set a $30.00 price target on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Citigroup reduced their price objective on shares of Luminar Technologies from $135.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 target price on shares of Luminar Technologies in a research report on Tuesday, September 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in Luminar Technologies by 30.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock valued at $294,000 after purchasing an additional 34,566 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of Luminar Technologies by 32.5% during the 2nd quarter. Wedmont Private Capital now owns 81,609 shares of the company’s stock worth $122,000 after acquiring an additional 20,000 shares during the last quarter. 180 Wealth Advisors LLC grew its position in Luminar Technologies by 27.0% in the second quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock worth $39,000 after acquiring an additional 5,592 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in Luminar Technologies in the second quarter valued at $604,000. Finally, Nisa Investment Advisors LLC raised its position in Luminar Technologies by 168.7% during the second quarter. Nisa Investment Advisors LLC now owns 49,046 shares of the company’s stock valued at $73,000 after purchasing an additional 30,796 shares in the last quarter. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Up 3.7 %

LAZR opened at $7.81 on Monday. Luminar Technologies has a twelve month low of $7.44 and a twelve month high of $55.35. The company’s 50-day moving average price is $12.02 and its two-hundred day moving average price is $16.91. The stock has a market cap of $260.15 million, a price-to-earnings ratio of -0.59 and a beta of 1.53.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings data on Monday, November 11th. The company reported ($2.40) EPS for the quarter, beating the consensus estimate of ($3.30) by $0.90. The firm had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same quarter in the previous year, the company posted ($4.95) EPS. Luminar Technologies’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Luminar Technologies will post -14.2 earnings per share for the current year.

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.