Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $7.29 Consensus PT from Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZRGet Free Report) have received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $7.29.

A number of analysts have recently weighed in on the company. The Goldman Sachs Group cut their target price on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. Rosenblatt Securities cut their target price on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Bank of America cut their target price on Luminar Technologies from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, February 29th.

Read Our Latest Report on LAZR

Luminar Technologies Stock Performance

NASDAQ:LAZR opened at $1.93 on Friday. The stock has a fifty day moving average price of $2.60 and a 200-day moving average price of $3.40. The company has a market cap of $814.25 million, a price-to-earnings ratio of -1.31 and a beta of 1.51. Luminar Technologies has a fifty-two week low of $1.92 and a fifty-two week high of $9.20.

Institutional Trading of Luminar Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley raised its position in Luminar Technologies by 326.9% in the third quarter. Morgan Stanley now owns 6,102,415 shares of the company’s stock valued at $27,766,000 after purchasing an additional 4,672,831 shares during the last quarter. Renaissance Technologies LLC bought a new position in Luminar Technologies in the first quarter valued at about $22,704,000. State Street Corp raised its position in Luminar Technologies by 189.4% in the second quarter. State Street Corp now owns 4,570,495 shares of the company’s stock valued at $27,103,000 after purchasing an additional 2,991,427 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Luminar Technologies by 100.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company’s stock valued at $17,225,000 after purchasing an additional 2,561,252 shares during the last quarter. Finally, Norges Bank bought a new position in Luminar Technologies in the fourth quarter valued at about $10,381,000. 60.82% of the stock is currently owned by institutional investors.

Luminar Technologies Company Profile

(Get Free Report

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.

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Analyst Recommendations for Luminar Technologies (NASDAQ:LAZR)

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