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

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.39.

LAZR has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $4.00 target price (down previously from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. The Goldman Sachs Group reduced their price objective on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a research note on Thursday, February 29th. Rosenblatt Securities dropped their target price on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Bank of America restated an “underperform” rating and issued a $1.20 price target (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th.

Luminar Technologies Trading Up 12.0 %

NASDAQ LAZR opened at $1.68 on Friday. The business’s 50-day moving average price is $1.78 and its 200 day moving average price is $2.54. Luminar Technologies has a twelve month low of $1.21 and a twelve month high of $8.32. The company has a market capitalization of $708.78 million, a PE ratio of -1.14 and a beta of 1.54.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $22.11 million for the quarter, compared to the consensus estimate of $27.25 million. Equities analysts predict that Luminar Technologies will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vahanian & Associates Financial Planning Inc. bought a new position in Luminar Technologies during the 4th quarter worth approximately $41,000. 180 Wealth Advisors LLC grew its position in shares of Luminar Technologies by 65.1% during the 1st quarter. 180 Wealth Advisors LLC now owns 20,702 shares of the company’s stock valued at $41,000 after buying an additional 8,161 shares during the last quarter. Leo Wealth LLC acquired a new stake in Luminar Technologies during the fourth quarter worth about $43,000. Brave Asset Management Inc. acquired a new position in Luminar Technologies in the fourth quarter valued at approximately $49,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Luminar Technologies during the fourth quarter valued at approximately $55,000. 30.99% of the stock is currently owned by institutional investors.

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.