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

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $4.45.

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased 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. Bank of America reiterated an “underperform” rating and set a $1.20 target price (down from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. Citigroup reduced their price objective on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Rosenblatt Securities reduced their price objective on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Luminar Technologies by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock valued at $53,239,000 after buying an additional 1,319,480 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Luminar Technologies by 100.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company’s stock worth $17,225,000 after buying an additional 2,561,252 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Luminar Technologies by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,030,290 shares of the company’s stock worth $9,238,000 after buying an additional 126,075 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Luminar Technologies by 0.8% during 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 buying an additional 14,604 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Luminar Technologies by 39.3% during the fourth quarter. Raymond James & Associates now owns 994,903 shares of the company’s stock worth $3,353,000 after buying an additional 280,775 shares during the period. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Down 0.3 %

Shares of LAZR opened at $1.60 on Thursday. The business’s 50 day moving average price is $1.67 and its 200-day moving average price is $2.37. Luminar Technologies has a 52 week low of $1.21 and a 52 week high of $8.32. The stock has a market cap of $710.76 million, a P/E ratio of -1.16 and a beta of 1.54.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.32) earnings per share 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 the consensus estimate of $27.25 million. On average, equities analysts anticipate that Luminar Technologies will post -0.99 EPS for the current 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.