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

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $6.39.

A number of brokerages have recently commented on LAZR. The Goldman Sachs Group reduced their target price on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a research report on Thursday, February 29th. Bank of America restated an “underperform” rating and set a $1.20 target price (down from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $4.00 price target (down previously from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Rosenblatt Securities reduced their price target on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th.

Institutional Trading of Luminar Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capstone Investment Advisors LLC purchased a new position in Luminar Technologies during the first quarter worth about $314,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Luminar Technologies by 0.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock worth $3,675,000 after purchasing an additional 14,604 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Luminar Technologies by 8.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 139,422 shares of the company’s stock valued at $275,000 after purchasing an additional 10,394 shares during the last quarter. Principal Financial Group Inc. raised its position in Luminar Technologies by 23.7% in the first quarter. Principal Financial Group Inc. now owns 39,157 shares of the company’s stock valued at $77,000 after purchasing an additional 7,510 shares during the period. Finally, PFG Investments LLC acquired a new position in Luminar Technologies during the first quarter worth $142,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Luminar Technologies Stock Performance

Shares of NASDAQ LAZR opened at $1.68 on Friday. The firm has a fifty day moving average of $1.78 and a 200 day moving average of $2.54. The firm has a market cap of $708.78 million, a PE ratio of -1.14 and a beta of 1.54. Luminar Technologies has a one year low of $1.21 and a one year high of $8.32.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share 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 analysts’ expectations of $27.25 million. On average, equities analysts predict that Luminar Technologies will post -1.01 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.