Luminar Technologies (NASDAQ:LAZR) Rating Increased to Hold at Wall Street Zen

Luminar Technologies (NASDAQ:LAZR) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

LAZR has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Luminar Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Luminar Technologies in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average price target of $2.00.

Luminar Technologies Price Performance

NASDAQ:LAZR opened at $0.86 on Monday. The firm has a market capitalization of $66.57 million, a P/E ratio of -0.17 and a beta of 2.03. Luminar Technologies has a one year low of $0.81 and a one year high of $10.89. The company’s 50-day simple moving average is $1.77 and its 200 day simple moving average is $2.52.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Thursday, November 13th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.08) by $0.14. The business had revenue of $18.75 million for the quarter, compared to analysts’ expectations of $17.56 million. On average, equities research analysts expect that Luminar Technologies will post -14.2 earnings per share for the current fiscal year.

Institutional Trading of Luminar Technologies

Several institutional investors have recently added to or reduced their stakes in LAZR. Quarry LP bought a new stake in shares of Luminar Technologies in the 1st quarter worth $27,000. CWM LLC boosted its position in shares of Luminar Technologies by 1,194.5% during the first quarter. CWM LLC now owns 9,877 shares of the company’s stock valued at $53,000 after buying an additional 9,114 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Luminar Technologies during the second quarter valued at $32,000. Headlands Technologies LLC bought a new stake in Luminar Technologies in the 1st quarter worth about $90,000. Finally, MetLife Investment Management LLC purchased a new position in Luminar Technologies in the 1st quarter worth about $90,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

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.