Luminar Technologies, Inc. (NASDAQ:LAZR – Get Free Report) has received an average recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $6.39.
Several equities research analysts recently commented on LAZR shares. Rosenblatt Securities cut their price objective on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. The Goldman Sachs Group lowered their price target on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $4.00 price target (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. Finally, Bank of America reiterated an “underperform” rating and issued a $1.20 price target (down from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th.
Luminar Technologies Price Performance
Shares of NASDAQ LAZR traded up $0.07 during midday trading on Friday, reaching $1.44. 4,324,624 shares of the stock were exchanged, compared to its average volume of 7,708,264. The business has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $2.61. The company has a market capitalization of $607.52 million, a price-to-earnings ratio of -0.98 and a beta of 1.48. Luminar Technologies has a 12 month low of $1.21 and a 12 month high of $8.32.
Luminar Technologies (NASDAQ:LAZR – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $22.11 million for the quarter, compared to analyst estimates of $27.25 million. Equities research analysts expect that Luminar Technologies will post -1.01 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of LAZR. Exchange Traded Concepts LLC increased its stake in shares of Luminar Technologies by 100.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company’s stock worth $17,225,000 after purchasing an additional 2,561,252 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Luminar Technologies by 7.0% during the 4th 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 last quarter. Raymond James & Associates increased its stake in shares of Luminar Technologies by 195.9% during the 3rd quarter. Raymond James & Associates now owns 714,128 shares of the company’s stock worth $3,249,000 after purchasing an additional 472,778 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Luminar Technologies by 48.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock worth $2,407,000 after purchasing an additional 232,024 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Luminar Technologies by 56.9% during the 3rd quarter. Blair William & Co. IL now owns 612,249 shares of the company’s stock worth $2,786,000 after purchasing an additional 221,929 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.
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.