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

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been given a consensus rating of “Hold” by the seven research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $3.74.

A number of equities analysts recently commented on LAZR shares. Westpark Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.00 price objective on shares of Luminar Technologies in a research note on Tuesday, September 10th. Citigroup lowered their target price on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. cut their price target on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $2.00 price objective on shares of Luminar Technologies in a research report on Wednesday, October 2nd.

Institutional Trading of Luminar Technologies

Several large investors have recently made changes to their positions in LAZR. Vanguard Group Inc. raised its position in shares of Luminar Technologies by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock worth $86,627,000 after purchasing an additional 1,671,708 shares during the period. Boulder Hill Capital Management LP bought a new position in shares of Luminar Technologies in the first quarter valued at $1,375,000. SG Americas Securities LLC grew its holdings in shares of Luminar Technologies by 5,037.2% during the third quarter. SG Americas Securities LLC now owns 576,547 shares of the company’s stock valued at $519,000 after buying an additional 565,324 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Luminar Technologies during the second quarter worth about $604,000. Finally, Blair William & Co. IL increased its position in shares of Luminar Technologies by 51.7% during the second quarter. Blair William & Co. IL now owns 605,735 shares of the company’s stock worth $903,000 after acquiring an additional 206,512 shares in the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Price Performance

Shares of NASDAQ LAZR opened at $0.84 on Friday. The company has a 50 day simple moving average of $0.90 and a 200 day simple moving average of $1.33. Luminar Technologies has a 1 year low of $0.73 and a 1 year high of $3.99. The firm has a market cap of $374.06 million, a PE ratio of -0.61 and a beta of 1.60.

Luminar Technologies (NASDAQ:LAZR) last issued 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 analyst estimates of $20.36 million. Luminar Technologies’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.37) EPS. As a group, research analysts anticipate that Luminar Technologies will post -0.97 earnings per share for the current fiscal 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.