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

Luminar Technologies, Inc. (NASDAQ:LAZR) has been given a consensus rating of “Hold” by the seven analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.74.

A number of analysts recently commented on the stock. Citigroup lowered their price objective 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.00 price objective on shares of Luminar Technologies in a research report on Tuesday, September 10th. Rosenblatt Securities restated a “neutral” rating and issued a $2.00 price objective on shares of Luminar Technologies in a research report on Wednesday, October 2nd. The Goldman Sachs Group lowered their price objective on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their price objective 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.

Luminar Technologies Stock Up 1.2 %

LAZR stock opened at $0.80 on Friday. The business’s fifty day moving average is $0.89 and its 200-day moving average is $1.31. The company has a market cap of $356.14 million, a P/E ratio of -0.58 and a beta of 1.60. Luminar Technologies has a twelve month low of $0.73 and a twelve month high of $3.99.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $16.50 million during the quarter, compared to analyst estimates of $20.36 million. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned ($0.37) EPS. Research analysts anticipate that Luminar Technologies will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Luminar Technologies

Several hedge funds have recently modified their holdings of LAZR. Optas LLC bought a new position in shares of Luminar Technologies in the 2nd quarter valued at about $26,000. Invst LLC bought a new position in shares of Luminar Technologies in the 2nd quarter valued at about $28,000. Evergreen Wealth Solutions LLC bought a new position in shares of Luminar Technologies in the 1st quarter valued at about $39,000. 180 Wealth Advisors LLC grew its holdings in shares of Luminar Technologies by 27.0% in the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock valued at $39,000 after acquiring an additional 5,592 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Luminar Technologies in the 2nd quarter valued at about $42,000. Institutional investors own 30.99% of the company’s stock.

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.