Rosenblatt Securities Reiterates “Neutral” Rating for Luminar Technologies (NASDAQ:LAZR)

Rosenblatt Securities reiterated their neutral rating on shares of Luminar Technologies (NASDAQ:LAZR) in a research report report published on Wednesday, Benzinga reports. Rosenblatt Securities currently has a $2.00 price target on the stock.

A number of other research analysts have also recently issued reports on LAZR. Deutsche Bank Aktiengesellschaft reiterated a hold rating and set a $1.00 price objective on shares of Luminar Technologies in a report on Tuesday, September 10th. Citigroup decreased their price objective on Luminar Technologies from $9.00 to $6.00 and set a buy rating for the company in a report on Friday, August 16th. JPMorgan Chase & Co. dropped their target price on Luminar Technologies from $8.00 to $6.00 and set an overweight rating on the stock in a report on Monday, August 19th. The Goldman Sachs Group decreased their price target on Luminar Technologies from $1.50 to $1.00 and set a sell rating for the company in a report on Thursday, July 11th. Finally, Westpark Capital restated a buy rating and set a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Luminar Technologies currently has an average rating of Hold and an average price target of $3.74.

Luminar Technologies Stock Performance

LAZR stock opened at $0.89 on Wednesday. Luminar Technologies has a fifty-two week low of $0.73 and a fifty-two week high of $4.47. The stock’s 50 day simple moving average is $0.99 and its 200 day simple moving average is $1.40. The company has a market cap of $395.36 million, a P/E ratio of -0.65 and a beta of 1.60.

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

Institutional Trading of Luminar Technologies

A number of institutional investors and hedge funds have recently modified their holdings of LAZR. Leo Wealth LLC bought a new position in Luminar Technologies in the 4th quarter valued at $43,000. Optas LLC bought a new position in Luminar Technologies during the second quarter valued at about $26,000. Invst LLC purchased a new stake in Luminar Technologies during the second quarter worth about $28,000. Quadrature Capital Ltd bought a new stake in Luminar Technologies in the fourth quarter worth about $67,000. Finally, Evergreen Wealth Solutions LLC purchased a new position in Luminar Technologies in the first quarter valued at about $39,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

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.