Luminar Technologies (NASDAQ:LAZR) PT Lowered to $1.00

Luminar Technologies (NASDAQ:LAZR) had its target price trimmed by The Goldman Sachs Group from $1.50 to $1.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a sell rating on the stock.

Other equities research analysts also recently issued reports about the stock. Bank of America reissued an underperform rating and set a $1.20 target price (down from $3.50) on shares of Luminar Technologies in a research report on Wednesday, April 10th. JPMorgan Chase & Co. reissued an overweight rating and set a $8.00 target price (down from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. Finally, Citigroup decreased their target price on shares of Luminar Technologies from $11.00 to $9.00 and set a buy rating for the company in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $4.37.

Luminar Technologies Trading Up 3.6 %

Shares of NASDAQ LAZR opened at $1.74 on Thursday. The firm’s 50-day moving average price is $1.57 and its 200-day moving average price is $2.03. Luminar Technologies has a 1-year low of $1.21 and a 1-year high of $8.32.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). The company had revenue of $20.97 million for the quarter, compared to analyst estimates of $22.09 million. On average, analysts predict that Luminar Technologies will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Luminar Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Luminar Technologies in the 1st quarter worth about $163,000. Evergreen Wealth Solutions LLC bought a new stake in Luminar Technologies in the 1st quarter worth about $39,000. Price T Rowe Associates Inc. MD grew its position in Luminar Technologies by 30.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock worth $294,000 after purchasing an additional 34,566 shares in the last quarter. Caz Investments LP grew its position in Luminar Technologies by 25.0% in the 1st quarter. Caz Investments LP now owns 150,000 shares of the company’s stock worth $296,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Boulder Hill Capital Management LP bought a new stake in Luminar Technologies in the 1st quarter worth about $1,375,000. 30.99% of the stock is owned by 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.