Luminar Technologies, Inc. (NASDAQ:LAZR) Given Consensus Recommendation of “Hold” by Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $3.40.

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.00 price target on shares of Luminar Technologies in a report on Tuesday, September 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $2.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd. Craig Hallum reduced their price target on shares of Luminar Technologies from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Tuesday. Westpark Capital reaffirmed a “buy” rating and issued a $9.00 price target on shares of Luminar Technologies in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced 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.

Institutional Trading of Luminar Technologies

Several institutional investors have recently made changes to their positions in the stock. Optas LLC acquired a new stake in shares of Luminar Technologies in the second quarter worth $26,000. Invst LLC acquired a new stake in shares of Luminar Technologies in the second quarter worth $28,000. Evergreen Wealth Solutions LLC acquired a new stake in shares of Luminar Technologies in the first quarter worth $39,000. 180 Wealth Advisors LLC lifted its stake in shares of Luminar Technologies by 27.0% in the second quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock worth $39,000 after buying an additional 5,592 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Luminar Technologies in the second quarter worth $42,000. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Stock Down 7.1 %

Shares of NASDAQ:LAZR opened at $1.05 on Thursday. The company has a market cap of $518.45 million, a price-to-earnings ratio of -1.18 and a beta of 1.61. The firm’s 50-day simple moving average is $0.85 and its 200-day simple moving average is $1.25. Luminar Technologies has a fifty-two week low of $0.73 and a fifty-two week high of $3.69.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Monday, November 11th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. The firm had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. The firm’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS. On average, research analysts forecast that Luminar Technologies will post -0.97 EPS for the current year.

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.