Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $4.37 Average Price Target from Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. Two research 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. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $4.89.

LAZR has been the topic of a number of analyst reports. Rosenblatt Securities dropped their price objective on Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup dropped their price objective on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. 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, The Goldman Sachs Group dropped their price objective on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a research note on Thursday, July 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Luminar Technologies by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock worth $53,239,000 after acquiring an additional 1,319,480 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Luminar Technologies by 0.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock valued at $3,675,000 after buying an additional 14,604 shares in the last quarter. Raymond James & Associates grew its holdings in Luminar Technologies by 39.3% in the 4th quarter. Raymond James & Associates now owns 994,903 shares of the company’s stock valued at $3,353,000 after buying an additional 280,775 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Luminar Technologies by 48.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock valued at $2,407,000 after buying an additional 232,024 shares in the last quarter. Finally, Boulder Hill Capital Management LP acquired a new position in Luminar Technologies in the 1st quarter valued at $1,375,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Stock Performance

NASDAQ LAZR opened at $0.90 on Tuesday. 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 stock’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $1.83. Luminar Technologies has a 52 week low of $0.84 and a 52 week high of $6.52.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate 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. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.37) EPS. On average, equities research analysts forecast that Luminar Technologies will post -1 EPS for the current year.

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.