Luminar Technologies (NASDAQ:LAZR) Announces Quarterly Earnings Results, Beats Expectations By $0.94 EPS

Luminar Technologies (NASDAQ:LAZR) released its quarterly earnings data on Thursday. The company reported ($1.26) EPS for the quarter, beating analysts’ consensus estimates of ($2.20) by $0.94, Briefing.com reports. The business had revenue of $22.48 million during the quarter, compared to analyst estimates of $17.50 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The firm’s revenue was up 1.7% on a year-over-year basis.

Luminar Technologies Price Performance

Shares of NASDAQ:LAZR traded down $0.96 during midday trading on Thursday, hitting $6.28. The company had a trading volume of 3,234,973 shares, compared to its average volume of 1,631,343. Luminar Technologies has a twelve month low of $4.48 and a twelve month high of $34.80. The stock has a market cap of $209.21 million, a price-to-earnings ratio of -0.47 and a beta of 1.74. The business’s 50-day simple moving average is $5.90 and its 200-day simple moving average is $9.09.

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.