Luminar Technologies (NASDAQ:LAZR) Given “Hold” Rating at Deutsche Bank Aktiengesellschaft

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “hold” rating reissued by stock analysts at Deutsche Bank Aktiengesellschaft in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $1.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 30.31% from the stock’s previous close.

Several other equities analysts have also weighed in on LAZR. Westpark Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price target on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Citigroup reduced their price objective on Luminar Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 16th. The Goldman Sachs Group decreased their target price on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a research report on Thursday, July 11th. Finally, Rosenblatt Securities dropped their price target on Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Luminar Technologies has a consensus rating of “Hold” and a consensus price target of $3.74.

Luminar Technologies Stock Performance

Shares of NASDAQ:LAZR opened at $0.77 on Tuesday. The company has a 50-day simple moving average of $1.29 and a 200 day simple moving average of $1.55. The company has a market capitalization of $341.97 million, a P/E ratio of -0.56 and a beta of 1.61. Luminar Technologies has a 52-week low of $0.73 and a 52-week high of $5.47.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. As a group, equities analysts forecast that Luminar Technologies will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Luminar Technologies by 5.1% during the first quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock worth $53,239,000 after purchasing an additional 1,319,480 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Luminar Technologies by 0.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock valued at $3,675,000 after purchasing an additional 14,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Luminar Technologies by 48.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock worth $2,407,000 after purchasing an additional 232,024 shares during the last quarter. Boulder Hill Capital Management LP bought a new position in shares of Luminar Technologies in the 1st quarter valued at $1,375,000. Finally, Blair William & Co. IL raised its holdings in shares of Luminar Technologies by 51.7% during the 2nd quarter. Blair William & Co. IL now owns 605,735 shares of the company’s stock worth $903,000 after buying an additional 206,512 shares in the last quarter. 30.99% of the stock is owned by 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.