Luminar Technologies (NASDAQ:LAZR) Given “Buy” Rating at Westpark Capital

Westpark Capital reissued their buy rating on shares of Luminar Technologies (NASDAQ:LAZR) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm currently has a $9.00 target price on the stock.

Several other equities research analysts have also issued reports on LAZR. The Goldman Sachs Group lowered their price target on shares of Luminar Technologies from $1.50 to $1.00 and set a sell rating on the stock in a report on Thursday, July 11th. Citigroup lowered their target price on shares of Luminar Technologies from $11.00 to $9.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, Bank of America reaffirmed an underperform rating and issued a $1.20 target price (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Luminar Technologies has an average rating of Hold and a consensus target price of $4.89.

Luminar Technologies Trading Down 3.1 %

NASDAQ:LAZR traded down $0.03 during trading hours on Tuesday, hitting $0.90. 27,810,424 shares of the company traded hands, compared to its average volume of 8,796,072. The stock has a market capitalization of $401.95 million, a price-to-earnings ratio of -0.66 and a beta of 1.62. The firm has a 50-day moving average of $1.52 and a 200 day moving average of $1.83. Luminar Technologies has a twelve month low of $0.84 and a twelve month high of $6.52.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. The business had revenue of $16.50 million during the quarter, compared to the consensus estimate of $20.36 million. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.37) EPS. Equities research analysts predict that Luminar Technologies will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Luminar Technologies

A number of hedge funds have recently added to or reduced their stakes in LAZR. 180 Wealth Advisors LLC lifted its position in Luminar Technologies by 27.0% during the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock valued at $39,000 after purchasing an additional 5,592 shares during the period. ProShare Advisors LLC lifted its position in Luminar Technologies by 16.0% during the 1st quarter. ProShare Advisors LLC now owns 52,321 shares of the company’s stock valued at $103,000 after purchasing an additional 7,222 shares during the period. Principal Financial Group Inc. lifted its position in Luminar Technologies by 23.7% during the 1st 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 during the period. Victory Capital Management Inc. lifted its position in Luminar Technologies by 27.9% during the 4th quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock valued at $117,000 after purchasing an additional 7,564 shares during the period. Finally, American International Group Inc. lifted its position in Luminar Technologies by 6.0% during the 1st quarter. American International Group Inc. now owns 143,517 shares of the company’s stock valued at $283,000 after purchasing an additional 8,089 shares during the period. Institutional investors own 30.99% of the company’s stock.

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.