Luminar Technologies’ (LAZR) Neutral Rating Reaffirmed at Rosenblatt Securities

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “neutral” rating reiterated by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $2.00 target price on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 142.37% from the stock’s previous close.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their target price on Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Westpark Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Citigroup decreased their target price 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. The Goldman Sachs Group lowered their price target on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research note on Thursday, July 11th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.74.

Luminar Technologies Stock Up 0.6 %

Shares of NASDAQ LAZR traded up $0.01 during mid-day trading on Wednesday, reaching $0.83. 4,006,092 shares of the company were exchanged, compared to its average volume of 11,656,377. Luminar Technologies has a 52 week low of $0.73 and a 52 week high of $4.47. The company’s 50 day moving average price is $1.04 and its 200 day moving average price is $1.42. The stock has a market capitalization of $367.73 million, a PE ratio of -0.60 and a beta of 1.60.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The firm had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. During the same period last year, the firm earned ($0.37) EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Luminar Technologies will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Luminar Technologies

A number of large investors have recently added to or reduced their stakes in LAZR. Leo Wealth LLC bought a new position in shares of Luminar Technologies during the fourth quarter valued at about $43,000. Optas LLC bought a new position in Luminar Technologies during the 2nd quarter valued at approximately $26,000. Invst LLC purchased a new stake in Luminar Technologies in the 2nd quarter worth approximately $28,000. Quadrature Capital Ltd purchased a new stake in Luminar Technologies in the 4th quarter worth approximately $67,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in shares of Luminar Technologies in the 1st quarter worth approximately $39,000. 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.