Luminar Technologies, Inc. (NASDAQ:LAZR) Given Average Rating of “Hold” by Brokerages

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $50.06.

Several brokerages recently weighed in on LAZR. Craig Hallum reduced their price objective on shares of Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price target on Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Citigroup lowered their price objective on Luminar Technologies from $135.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 target price on shares of Luminar Technologies in a report on Tuesday, September 10th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd.

Hedge Funds Weigh In On Luminar Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Optas LLC acquired a new position in shares of Luminar Technologies during the 2nd quarter valued at $26,000. Invst LLC bought a new stake in Luminar Technologies in the second quarter valued at $28,000. 180 Wealth Advisors LLC raised its holdings in shares of Luminar Technologies by 27.0% during the second quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock valued at $39,000 after purchasing an additional 5,592 shares during the period. PEAK6 Investments LLC bought a new position in shares of Luminar Technologies during the 3rd quarter worth about $25,000. Finally, Algert Global LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter valued at about $42,000. 30.99% of the stock is currently owned by institutional investors.

Luminar Technologies Trading Down 7.4 %

Luminar Technologies stock opened at $6.42 on Monday. The stock has a 50-day moving average price of $11.47 and a two-hundred day moving average price of $16.38. Luminar Technologies has a 12 month low of $6.34 and a 12 month high of $55.35. The company has a market capitalization of $213.87 million, a PE ratio of -0.48 and a beta of 1.53.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings data on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.30) by $0.90. The business had revenue of $15.49 million during the quarter, compared to the consensus estimate of $17.70 million. During the same quarter last year, the business earned ($4.95) EPS. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, analysts predict that Luminar Technologies will post -14.2 earnings per share for the current fiscal 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.