Luminar Technologies (NASDAQ:LAZR) Rating Reiterated by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft restated their hold rating on shares of Luminar Technologies (NASDAQ:LAZR) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a $1.00 price objective on the stock.

LAZR has been the subject of a number of other reports. The Goldman Sachs Group reduced 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. Citigroup cut their target price on shares of Luminar Technologies from $9.00 to $6.00 and set a buy rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. cut their target price on shares of Luminar Technologies from $8.00 to $6.00 and set an overweight rating for the company in a research report on Monday, August 19th. Westpark Capital restated a buy rating and set a $9.00 target price on shares of Luminar Technologies in a research report on Tuesday, August 6th. Finally, Rosenblatt Securities cut their target price on shares of Luminar Technologies from $3.00 to $2.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. 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. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $3.74.

Luminar Technologies Stock Up 7.7 %

Shares of LAZR stock opened at $0.85 on Tuesday. The company has a 50 day moving average price of $1.26 and a 200-day moving average price of $1.53. Luminar Technologies has a 52 week low of $0.73 and a 52 week high of $5.27. The firm has a market capitalization of $377.18 million, a PE ratio of -0.62 and a beta of 1.61.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The company 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 firm earned ($0.37) earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts anticipate that Luminar Technologies will post -1 earnings per share for the current year.

Institutional Trading of Luminar Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of LAZR. Vanguard Group Inc. increased its stake in shares of Luminar Technologies by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock worth $86,627,000 after purchasing an additional 1,671,708 shares in the last quarter. Boulder Hill Capital Management LP purchased a new stake in shares of Luminar Technologies in the first quarter worth $1,375,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Luminar Technologies in the second quarter worth $604,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Luminar Technologies by 48.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock worth $2,407,000 after purchasing an additional 232,024 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Luminar Technologies by 51.7% in the second quarter. Blair William & Co. IL now owns 605,735 shares of the company’s stock worth $903,000 after purchasing an additional 206,512 shares in the last quarter. 30.99% of the stock is owned by hedge funds and other 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.