Rosenblatt Securities Reiterates “Neutral” Rating for Luminar Technologies (NASDAQ:LAZR)

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “neutral” rating reissued by Rosenblatt Securities in a report issued on Wednesday, Benzinga reports. They currently have a $2.00 target price on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 143.90% from the company’s current price.

LAZR has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.00 price target on shares of Luminar Technologies in a research note on Tuesday, September 10th. Westpark Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Citigroup decreased their target price on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.74.

Luminar Technologies Trading Down 3.0 %

Luminar Technologies stock opened at $0.82 on Wednesday. The stock has a 50-day moving average price of $1.01 and a 200 day moving average price of $1.41. Luminar Technologies has a 52 week low of $0.73 and a 52 week high of $4.47. The stock has a market cap of $365.41 million, a PE ratio of -0.60 and a beta of 1.60.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $16.50 million during the quarter, compared to analyst estimates of $20.36 million. During the same period in the prior year, the firm earned ($0.37) EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that Luminar Technologies will post -0.97 EPS for the current year.

Hedge Funds Weigh In On Luminar Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Leo Wealth LLC acquired a new position in shares of Luminar Technologies during the fourth quarter worth $43,000. Optas LLC acquired a new position in Luminar Technologies in the 2nd quarter worth $26,000. Invst LLC purchased a new position in Luminar Technologies in the 2nd quarter valued at about $28,000. Quadrature Capital Ltd acquired a new stake in shares of Luminar Technologies during the fourth quarter valued at about $67,000. Finally, Evergreen Wealth Solutions LLC acquired a new stake in Luminar Technologies during the 1st quarter valued at approximately $39,000. 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.