Luminar Technologies (NASDAQ:LAZR) Receives Hold Rating from Deutsche Bank Aktiengesellschaft

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “hold” rating restated by investment analysts at Deutsche Bank Aktiengesellschaft in a report issued on Tuesday, Benzinga reports. They presently have a $1.00 price objective on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 22.34% from the company’s previous close.

LAZR has been the topic of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. The Goldman Sachs Group lowered their target price on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a report on Thursday, July 11th. Citigroup cut their price target on Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Westpark Capital reiterated a “buy” rating and set a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Finally, Rosenblatt Securities dropped their target price on Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Luminar Technologies has a consensus rating of “Hold” and an average target price of $3.74.

Luminar Technologies Stock Performance

Shares of NASDAQ:LAZR opened at $0.82 on Tuesday. The firm has a market capitalization of $364.25 million, a P/E ratio of -0.60 and a beta of 1.61. The stock has a 50 day moving average price of $1.32 and a 200-day moving average price of $1.56. Luminar Technologies has a 52-week low of $0.73 and a 52-week high of $5.48.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $16.50 million during the quarter, compared to the consensus estimate of $20.36 million. During the same quarter last year, the company posted ($0.37) EPS. Luminar Technologies’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Luminar Technologies will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On Luminar Technologies

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Luminar Technologies by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock worth $53,239,000 after buying an additional 1,319,480 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Luminar Technologies by 0.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock valued at $3,675,000 after purchasing an additional 14,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Luminar Technologies by 48.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock valued at $2,407,000 after purchasing an additional 232,024 shares during the period. Boulder Hill Capital Management LP purchased a new stake in Luminar Technologies in the first quarter worth approximately $1,375,000. Finally, Blair William & Co. IL grew its position in Luminar Technologies by 51.7% in the 2nd quarter. Blair William & Co. IL now owns 605,735 shares of the company’s stock worth $903,000 after purchasing an additional 206,512 shares during the period. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

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.