Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $3.74 Consensus PT from Brokerages

Luminar Technologies, Inc. (NASDAQ:LAZR) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $3.74.

A number of brokerages have recently commented on LAZR. Westpark Capital restated a “buy” rating and issued a $9.00 target price on shares of Luminar Technologies in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.00 price objective on shares of Luminar Technologies in a research note on Tuesday, September 10th. Rosenblatt Securities decreased their target price on shares of Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Citigroup dropped their price target on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 19th.

Luminar Technologies Stock Down 0.9 %

Luminar Technologies stock opened at $0.91 on Wednesday. Luminar Technologies has a 52 week low of $0.73 and a 52 week high of $4.62. The stock has a 50-day moving average price of $1.08 and a 200 day moving average price of $1.43. The company has a market capitalization of $405.38 million, a price-to-earnings ratio of -0.66 and a beta of 1.61.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. The business had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $20.36 million. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned ($0.37) earnings per share. Research analysts anticipate that Luminar Technologies will post -0.97 EPS for the current fiscal year.

Institutional Trading of Luminar Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in shares of Luminar Technologies by 27.9% in the fourth quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock worth $117,000 after acquiring an additional 7,564 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Luminar Technologies by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock worth $86,627,000 after buying an additional 1,671,708 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Luminar Technologies in the first quarter valued at about $214,000. Leo Wealth LLC acquired a new stake in shares of Luminar Technologies in the fourth quarter valued at about $43,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Luminar Technologies by 0.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock worth $3,675,000 after buying an additional 14,604 shares in the last quarter. Hedge funds and other institutional investors own 30.99% of the company’s stock.

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.