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

Luminar Technologies, Inc. (NASDAQ:LAZR) has earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $3.74.

Several equities analysts have weighed in on LAZR shares. JPMorgan Chase & Co. lowered their price objective 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. The Goldman Sachs Group dropped their price target on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.00 price objective on shares of Luminar Technologies in a research report on Tuesday, September 10th. Citigroup dropped their target price on Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Westpark Capital restated a “buy” rating and set a $9.00 price target on shares of Luminar Technologies in a report on Tuesday, August 6th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in shares of Luminar Technologies by 27.9% during the fourth quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock valued at $117,000 after buying an additional 7,564 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Luminar Technologies by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock worth $86,627,000 after acquiring an additional 1,671,708 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Luminar Technologies during the first quarter valued at approximately $214,000. Leo Wealth LLC acquired a new position in shares of Luminar Technologies in the fourth quarter valued at $43,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Luminar Technologies by 0.8% in the first 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. 30.99% of the stock is owned by institutional investors.

Luminar Technologies Price Performance

Shares of Luminar Technologies stock opened at $0.91 on Wednesday. Luminar Technologies has a 1-year low of $0.73 and a 1-year high of $4.62. The company has a market capitalization of $405.38 million, a P/E ratio of -0.66 and a beta of 1.61. The business’s fifty day moving average price is $1.08 and its two-hundred day moving average price is $1.43.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. The firm had revenue of $16.50 million during the quarter, compared to analyst estimates of $20.36 million. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) EPS. On average, research analysts expect 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.