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

Shares of Luminar Technologies, Inc. (NASDAQ:LAZRGet Free Report) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.38.

LAZR has been the subject of several research analyst reports. Bank of America decreased their price objective on shares of Luminar Technologies from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Rosenblatt Securities dropped their target price on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. The Goldman Sachs Group lowered 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 note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th.

Check Out Our Latest Stock Report on Luminar Technologies

Institutional Investors Weigh In On Luminar Technologies

A number of institutional investors have recently modified their holdings of LAZR. American International Group Inc. grew its position in Luminar Technologies by 1.5% in the 4th quarter. American International Group Inc. now owns 118,820 shares of the company’s stock worth $588,000 after purchasing an additional 1,756 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Luminar Technologies by 13.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,901 shares of the company’s stock valued at $103,000 after acquiring an additional 1,799 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Luminar Technologies by 16.3% in the 4th quarter. Lazard Asset Management LLC now owns 14,072 shares of the company’s stock valued at $69,000 after acquiring an additional 1,968 shares in the last quarter. Amundi lifted its position in shares of Luminar Technologies by 19.6% in the 4th quarter. Amundi now owns 12,676 shares of the company’s stock valued at $66,000 after acquiring an additional 2,074 shares in the last quarter. Finally, FMR LLC increased its stake in Luminar Technologies by 5.5% in the 1st quarter. FMR LLC now owns 40,376 shares of the company’s stock valued at $262,000 after buying an additional 2,102 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Stock Down 8.1 %

NASDAQ:LAZR opened at $1.93 on Wednesday. The company has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $2.98. The company has a market cap of $814.24 million, a price-to-earnings ratio of -1.31 and a beta of 1.48. Luminar Technologies has a 52 week low of $1.63 and a 52 week high of $8.32.

Luminar Technologies (NASDAQ:LAZRGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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, analysts expect that Luminar Technologies will post -1 EPS for the current year.

Luminar Technologies Company Profile

(Get Free Report

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.

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Analyst Recommendations for Luminar Technologies (NASDAQ:LAZR)

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