Luminar Technologies’ (LAZR) Neutral Rating Reiterated at JPMorgan Chase & Co.

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “neutral” rating reiterated by JPMorgan Chase & Co. in a report issued on Thursday, MarketBeat.com reports.

Separately, The Goldman Sachs Group lowered their price objective on shares of Luminar Technologies from $3.50 to $2.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.86.

Luminar Technologies Stock Performance

Shares of LAZR stock opened at $4.72 on Thursday. The firm’s 50 day moving average price is $4.77 and its two-hundred day moving average price is $6.66. Luminar Technologies has a 52-week low of $3.30 and a 52-week high of $32.70. The stock has a market cap of $200.08 million, a PE ratio of -0.35 and a beta of 2.06.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.75) by $0.25. The company had revenue of $18.89 million during the quarter, compared to analyst estimates of $16.27 million. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. As a group, sell-side analysts predict that Luminar Technologies will post -14.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Luminar Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LAZR. Barclays PLC raised its holdings in shares of Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock valued at $757,000 after purchasing an additional 694,315 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Luminar Technologies by 6.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 333,675 shares of the company’s stock worth $1,799,000 after purchasing an additional 21,468 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Luminar Technologies during the fourth quarter worth about $1,452,000. Royal Bank of Canada increased its position in Luminar Technologies by 20,160.0% during the first quarter. Royal Bank of Canada now owns 231,572 shares of the company’s stock worth $1,248,000 after buying an additional 230,429 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Luminar Technologies by 21.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 219,766 shares of the company’s stock worth $1,185,000 after buying an additional 38,549 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.

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.