Luminar Technologies (NASDAQ:LAZR) Rating Reiterated by JPMorgan Chase & Co.

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “overweight” rating reiterated by analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday, Benzinga reports. They currently have a $8.00 price target on the stock, down from their previous price target of $20.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 349.44% from the stock’s current price.

LAZR has been the topic of several other research reports. The Goldman Sachs Group reduced their price target on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities decreased their target price on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Bank of America cut their price target on shares of Luminar Technologies from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $4.00 price objective (down from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.38.

Luminar Technologies Trading Up 5.3 %

LAZR opened at $1.78 on Tuesday. The firm has a market capitalization of $750.96 million, a PE ratio of -1.21 and a beta of 1.51. Luminar Technologies has a twelve month low of $1.63 and a twelve month high of $8.32. The firm’s 50-day moving average price is $2.34 and its 200 day moving average price is $3.08.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $22.11 million during the quarter, compared to analyst estimates of $27.25 million. As a group, analysts predict that Luminar Technologies will post -1.03 earnings per share for the current fiscal year.

Institutional Trading of Luminar Technologies

Several institutional investors have recently added to or reduced their stakes in LAZR. American International Group Inc. boosted its position in shares of Luminar Technologies by 1.5% during the fourth quarter. American International Group Inc. now owns 118,820 shares of the company’s stock worth $588,000 after buying an additional 1,756 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Luminar Technologies by 13.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,901 shares of the company’s stock valued at $103,000 after acquiring an additional 1,799 shares during the period. Lazard Asset Management LLC grew its position in Luminar Technologies by 16.3% in the 4th quarter. Lazard Asset Management LLC now owns 14,072 shares of the company’s stock valued at $69,000 after acquiring an additional 1,968 shares in the last quarter. Amundi increased its stake in Luminar Technologies by 19.6% during the fourth quarter. Amundi now owns 12,676 shares of the company’s stock worth $66,000 after purchasing an additional 2,074 shares during the period. Finally, FMR LLC lifted its position in shares of Luminar Technologies by 5.5% during the first quarter. FMR LLC now owns 40,376 shares of the company’s stock worth $262,000 after purchasing an additional 2,102 shares in the last quarter. Institutional investors and hedge funds 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.