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

Luminar Technologies, Inc. (NASDAQ:LAZR) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $50.06.

Several research firms have commented on LAZR. JPMorgan Chase & Co. decreased their price objective on shares of Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Rosenblatt Securities reissued a “neutral” rating and issued a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd. The Goldman Sachs Group reduced their price objective on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $15.00 price target on shares of Luminar Technologies in a report on Tuesday, September 10th. Finally, Citigroup decreased their price objective on Luminar Technologies from $135.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 16th.

Luminar Technologies Stock Performance

Shares of LAZR stock opened at $6.42 on Monday. The firm’s 50-day moving average is $11.47 and its 200-day moving average is $16.38. The stock has a market cap of $213.87 million, a price-to-earnings ratio of -0.48 and a beta of 1.53. Luminar Technologies has a 52-week low of $6.34 and a 52-week high of $55.35.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, topping the consensus estimate of ($3.30) by $0.90. The business had revenue of $15.49 million for the quarter, compared to the consensus estimate of $17.70 million. During the same quarter in the prior year, the firm posted ($4.95) earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. Sell-side analysts predict that Luminar Technologies will post -14.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LAZR. PEAK6 Investments LLC acquired a new position in shares of Luminar Technologies during the 3rd quarter worth $25,000. Optas LLC acquired a new position in Luminar Technologies during the second quarter worth about $26,000. Invst LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Luminar Technologies during the 3rd quarter valued at approximately $31,000. Finally, Tyler Stone Wealth Management increased its position in Luminar Technologies by 70.5% during the 3rd quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock worth $33,000 after purchasing an additional 15,300 shares in the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.

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.