Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $6.39 Average Price Target from Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have received a consensus rating of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.39.

A number of research analysts have commented on LAZR shares. Bank of America restated an “underperform” rating and issued a $1.20 price objective (down from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Rosenblatt Securities dropped their price target on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. The Goldman Sachs Group dropped their price target on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a research note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $4.00 price target (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th.

Luminar Technologies Stock Performance

LAZR stock opened at $1.47 on Friday. The company’s 50 day moving average price is $1.83 and its 200 day moving average price is $2.58. Luminar Technologies has a fifty-two week low of $1.21 and a fifty-two week high of $8.32. The firm has a market capitalization of $620.18 million, a price-to-earnings ratio of -1.00 and a beta of 1.48.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $22.11 million for the quarter, compared to the consensus estimate of $27.25 million. Equities analysts forecast that Luminar Technologies will post -1.01 EPS for the current fiscal year.

Institutional Trading of Luminar Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of Luminar Technologies by 23.7% in the first quarter. Principal Financial Group Inc. now owns 39,157 shares of the company’s stock valued at $77,000 after purchasing an additional 7,510 shares in the last quarter. PFG Investments LLC purchased a new position in shares of Luminar Technologies during the first quarter valued at approximately $142,000. Howard Financial Services LTD. lifted its stake in shares of Luminar Technologies by 100.0% during the first quarter. Howard Financial Services LTD. now owns 50,000 shares of the company’s stock valued at $98,000 after buying an additional 25,000 shares during the period. 180 Wealth Advisors LLC lifted its stake in shares of Luminar Technologies by 65.1% during the first quarter. 180 Wealth Advisors LLC now owns 20,702 shares of the company’s stock valued at $41,000 after buying an additional 8,161 shares during the period. Finally, Global Assets Advisory LLC lifted its stake in shares of Luminar Technologies by 110.0% during the first quarter. Global Assets Advisory LLC now owns 42,000 shares of the company’s stock valued at $83,000 after buying an additional 22,000 shares during the period. Hedge funds and other 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.