Luminar Technologies (NASDAQ:LAZR) Announces Quarterly Earnings Results

Luminar Technologies (NASDAQ:LAZR) announced its quarterly earnings results on Thursday. The company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.20) by $0.94, Briefing.com reports. The company had revenue of $22.48 million during the quarter, compared to analysts’ expectations of $17.50 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) earnings per share.

Luminar Technologies Stock Performance

LAZR traded down $0.96 on Thursday, hitting $6.28. The company had a trading volume of 3,328,432 shares, compared to its average volume of 1,631,558. The stock has a market capitalization of $209.21 million, a price-to-earnings ratio of -0.47 and a beta of 1.74. The stock has a fifty day moving average price of $5.90 and a 200-day moving average price of $9.09. Luminar Technologies has a 12-month low of $4.48 and a 12-month high of $34.80.

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.