Brokerages Set Luminar Technologies, Inc. (NASDAQ:LAZR) PT at $50.06

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) has been given an average rating of "Hold" by the eight brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $50.06.

Several research firms have recently issued reports on LAZR. Citigroup lowered their price objective on Luminar Technologies from $135.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 16th. Rosenblatt Securities reissued a "neutral" rating and set a $30.00 price target on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $15.00 price target on shares of Luminar Technologies in a research note on Tuesday, September 10th. The Goldman Sachs Group decreased their price target on Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their price target on Luminar Technologies from $120.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, August 19th.

Institutional Investors Weigh In On Luminar Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LAZR. Price T Rowe Associates Inc. MD increased its holdings in shares of Luminar Technologies by 30.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company's stock valued at $294,000 after acquiring an additional 34,566 shares during the period. Wedmont Private Capital increased its holdings in shares of Luminar Technologies by 32.5% in the 2nd quarter. Wedmont Private Capital now owns 81,609 shares of the company's stock valued at $122,000 after acquiring an additional 20,000 shares during the period. 180 Wealth Advisors LLC increased its holdings in shares of Luminar Technologies by 27.0% in the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company's stock valued at $39,000 after acquiring an additional 5,592 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in shares of Luminar Technologies in the 2nd quarter valued at $604,000. Finally, Nisa Investment Advisors LLC grew its stake in Luminar Technologies by 168.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 49,046 shares of the company's stock worth $73,000 after buying an additional 30,796 shares during the last quarter. 30.99% of the stock is owned by institutional investors.

Luminar Technologies Stock Up 0.4 %

NASDAQ LAZR traded up $0.03 during trading on Monday, hitting $7.84. 3,416,856 shares of the stock traded hands, compared to its average volume of 1,155,982. The company has a market capitalization of $261.17 million, a P/E ratio of -0.59 and a beta of 1.53. The firm has a 50-day simple moving average of $12.02 and a 200-day simple moving average of $16.86. Luminar Technologies has a 12-month low of $7.44 and a 12-month high of $55.35.

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