Shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Free Report) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $53.86.
A number of analysts recently commented on LAZR shares. The Goldman Sachs Group lowered their target price on shares of Luminar Technologies from $3.50 to $2.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Luminar Technologies in a research note on Thursday, May 15th.
Check Out Our Latest Stock Report on Luminar Technologies
Luminar Technologies Price Performance
Luminar Technologies (NASDAQ:LAZR – Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, topping the consensus estimate of ($1.75) by $0.25. The business had revenue of $18.89 million during the quarter, compared to analyst estimates of $16.27 million. During the same period in the prior year, the business posted ($0.19) EPS. Luminar Technologies’s revenue was down 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Luminar Technologies will post -14.2 earnings per share for the current fiscal year.
Institutional Trading of Luminar Technologies
Several large investors have recently made changes to their positions in LAZR. Goldman Sachs Group Inc. raised its holdings in shares of Luminar Technologies by 6.9% during the first 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 acquired a new stake in Luminar Technologies during the 4th quarter worth about $1,452,000. Royal Bank of Canada raised its stake in shares of Luminar Technologies by 20,160.0% during the 1st quarter. Royal Bank of Canada now owns 231,572 shares of the company’s stock valued at $1,248,000 after buying an additional 230,429 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Luminar Technologies by 21.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 219,766 shares of the company’s stock valued at $1,185,000 after buying an additional 38,549 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Luminar Technologies in the 1st quarter valued at about $881,000. 30.99% of the stock is owned by hedge funds and other institutional investors.
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.
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