Brokerages Set Luminar Technologies, Inc. (NASDAQ:LAZR) Price Target at $50.06

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have received a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $50.06.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LAZR. Barclays PLC lifted its stake in Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock valued at $757,000 after buying an additional 694,315 shares during the last quarter. LRI Investments LLC increased its holdings in shares of Luminar Technologies by 32,352.8% in the 3rd quarter. LRI Investments LLC now owns 162,264 shares of the company’s stock valued at $146,000 after acquiring an additional 161,764 shares during the period. Caz Investments LP raised its position in Luminar Technologies by 100.0% in the 3rd quarter. Caz Investments LP now owns 300,000 shares of the company’s stock valued at $270,000 after purchasing an additional 150,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Luminar Technologies during the 3rd quarter worth $316,000. Finally, Main Management ETF Advisors LLC acquired a new stake in Luminar Technologies during the 3rd quarter worth $457,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Trading Up 8.5 %

NASDAQ LAZR opened at $6.66 on Friday. The stock has a market cap of $221.84 million, a PE ratio of -0.50 and a beta of 1.53. Luminar Technologies has a twelve month low of $4.93 and a twelve month high of $53.48. The stock has a fifty day simple moving average of $9.39 and a 200-day simple moving average of $14.50.

Luminar Technologies (NASDAQ:LAZR) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $17.70 million. During the same period last year, the business earned ($4.95) EPS. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Research analysts predict that Luminar Technologies will post -14.2 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.