Luminar Technologies, Inc. (NASDAQ:LAZR) Given Consensus Recommendation of “Hold” by Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $3.34.

LAZR has been the topic of several research analyst reports. Craig Hallum lowered their price target on Luminar Technologies from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.00 price objective on shares of Luminar Technologies in a research report on Tuesday, September 10th. Rosenblatt Securities reissued a “neutral” rating and set a $2.00 target price on shares of Luminar Technologies in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased 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. Finally, Westpark Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of Luminar Technologies in a report on Tuesday, August 6th.

Luminar Technologies Stock Down 11.7 %

Shares of NASDAQ LAZR opened at $0.86 on Thursday. The stock has a market cap of $427.05 million, a P/E ratio of -0.97 and a beta of 1.61. The firm’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $1.23. Luminar Technologies has a fifty-two week low of $0.73 and a fifty-two week high of $3.69.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The company had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. During the same period in the prior year, the company posted ($0.33) earnings per share. The company’s revenue was down 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Luminar Technologies will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LAZR. Optas LLC acquired a new stake in Luminar Technologies during the 2nd quarter worth about $26,000. Invst LLC acquired a new stake in shares of Luminar Technologies during the second quarter worth approximately $28,000. Evergreen Wealth Solutions LLC purchased a new position in Luminar Technologies during the first quarter valued at approximately $39,000. 180 Wealth Advisors LLC increased its stake in 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 buying an additional 5,592 shares during the period. Finally, PEAK6 Investments LLC purchased a new stake in Luminar Technologies in the 3rd quarter worth approximately $25,000. 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.