Luminar Technologies, Inc. (NASDAQ:LAZR) Receives Consensus Recommendation of “Hold” from Analysts

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

Several research firms recently issued reports on LAZR. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 price objective on shares of Luminar Technologies in a report on Tuesday, September 10th. Craig Hallum dropped their price target on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group reduced their price objective on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 target price on shares of Luminar Technologies in a research note on Wednesday, October 2nd.

Hedge Funds Weigh In On Luminar Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Luminar Technologies in the third quarter valued at $316,000. Barclays PLC increased its position in shares of Luminar Technologies by 469.2% during the 3rd quarter. Barclays PLC now owns 842,288 shares of the company’s stock worth $757,000 after purchasing an additional 694,315 shares during the last quarter. Geode Capital Management LLC raised its holdings in Luminar Technologies by 17.9% in the 3rd quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock valued at $7,896,000 after buying an additional 1,331,067 shares during the period. LRI Investments LLC lifted its position in Luminar Technologies by 32,352.8% in the third quarter. LRI Investments LLC now owns 162,264 shares of the company’s stock valued at $146,000 after buying an additional 161,764 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in Luminar Technologies during the third quarter worth about $457,000. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Price Performance

Luminar Technologies stock opened at $6.14 on Friday. The stock has a market capitalization of $204.54 million, a PE ratio of -0.46 and a beta of 1.53. The business has a 50 day simple moving average of $9.62 and a 200-day simple moving average of $14.77. Luminar Technologies has a 12 month low of $4.93 and a 12 month high of $53.48.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, topping the consensus estimate of ($3.30) by $0.90. The company had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. Luminar Technologies’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($4.95) EPS. On average, equities research analysts anticipate that Luminar Technologies will post -14.2 EPS for the current fiscal 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.