Luminar Technologies, Inc. (NASDAQ:LAZR) Given Average Rating of "Hold" by Brokerages

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) has received an average recommendation of "Hold" from the eight analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $50.06.

LAZR has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a report on Thursday, November 14th. Craig Hallum lowered their price target on shares of Luminar Technologies from $22.50 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, November 12th.

Luminar Technologies Trading Down 7.7 %

LAZR stock traded down $0.44 during midday trading on Tuesday, reaching $5.31. The stock had a trading volume of 1,741,489 shares, compared to its average volume of 3,073,903. The company's fifty day simple moving average is $6.79 and its 200 day simple moving average is $12.08. The company has a market cap of $176.88 million, a price-to-earnings ratio of -0.40 and a beta of 1.62. Luminar Technologies has a 52-week low of $4.93 and a 52-week high of $45.68.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The company reported ($2.40) EPS for the quarter, beating analysts' consensus estimates of ($3.30) by $0.90. The business had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. The firm's revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($4.95) EPS. Sell-side analysts predict that Luminar Technologies will post -14.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. PEAK6 Investments LLC acquired a new position in Luminar Technologies during the 3rd quarter worth about $25,000. Invst LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Luminar Technologies during the 3rd quarter worth $31,000. Tyler Stone Wealth Management increased its holdings in Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company's stock valued at $33,000 after buying an additional 15,300 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Luminar Technologies in the third quarter valued at $40,000. Hedge funds and other 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.