Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $50.06 Average PT from Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $50.06.

Several research firms have recently commented on LAZR. Craig Hallum reduced their target price on shares of Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Rosenblatt Securities reissued a “neutral” rating and set a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Luminar Technologies in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group cut their target price on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LAZR. PEAK6 Investments LLC acquired a new stake in shares of Luminar Technologies in the 3rd quarter worth approximately $25,000. Invst LLC purchased a new stake in Luminar Technologies during the second quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Luminar Technologies in the third quarter valued at $31,000. Tyler Stone Wealth Management increased its position in shares of Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after buying an additional 15,300 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Luminar Technologies during the 3rd quarter worth $40,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

Luminar Technologies Stock Up 8.5 %

LAZR opened at $6.66 on Friday. The business has a 50 day moving average price of $9.39 and a two-hundred day moving average price of $14.50. Luminar Technologies has a 52 week low of $4.93 and a 52 week high of $53.48. The company has a market cap of $221.84 million, a PE ratio of -0.50 and a beta of 1.53.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, topping the consensus estimate of ($3.30) by $0.90. The company had revenue of $15.49 million for the quarter, compared to analysts’ expectations of $17.70 million. During the same quarter last year, the company earned ($4.95) EPS. Luminar Technologies’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Luminar Technologies will post -14.2 EPS for the current fiscal year.

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.