Luminar Technologies, Inc. (NASDAQ:LAZR) Receives Average Rating of “Hold” from Analysts

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

Several research firms 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 for the company in a report on Tuesday, November 12th. The Goldman Sachs Group cut their price target on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a report on Thursday, November 14th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd.

Luminar Technologies Stock Down 12.6 %

LAZR stock opened at $5.61 on Tuesday. The company has a market capitalization of $186.87 million, a P/E ratio of -0.42 and a beta of 1.60. The company has a 50-day simple moving average of $7.22 and a 200 day simple moving average of $12.76. Luminar Technologies has a fifty-two week low of $4.93 and a fifty-two week high of $45.68.

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

Institutional Trading of Luminar Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Luminar Technologies by 17.9% during the 3rd quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock worth $7,896,000 after buying an additional 1,331,067 shares during the period. State Street Corp increased its holdings in shares of Luminar Technologies by 2.7% in the 3rd quarter. State Street Corp now owns 8,525,374 shares of the company’s stock valued at $7,670,000 after purchasing an additional 225,223 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Luminar Technologies by 16.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock valued at $2,691,000 after purchasing an additional 425,335 shares during the period. Barclays PLC increased its holdings in shares of Luminar Technologies by 469.2% in the 3rd quarter. Barclays PLC now owns 842,288 shares of the company’s stock valued at $757,000 after purchasing an additional 694,315 shares during the period. Finally, XTX Topco Ltd increased its holdings in shares of Luminar Technologies by 819.6% in the 3rd quarter. XTX Topco Ltd now owns 649,175 shares of the company’s stock valued at $584,000 after purchasing an additional 578,582 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

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.