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

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) have been given an average recommendation of "Hold" by the eight research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $3.34.

LAZR has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Luminar Technologies from $0.75 to $0.50 and set a "sell" rating on the stock in a report on Thursday. Citigroup dropped their price target on shares of 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 target on shares of Luminar Technologies in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $1.00 target price on shares of Luminar Technologies in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $2.00 price target on shares of Luminar Technologies in a research note on Wednesday, October 2nd.

Institutional Investors Weigh In On Luminar Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PEAK6 Investments LLC acquired a new stake in Luminar Technologies during the third quarter worth $25,000. Optas LLC acquired a new stake in Luminar Technologies during the 2nd quarter worth $26,000. Invst LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter valued at approximately $28,000. Tyler Stone Wealth Management increased its holdings in shares of Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company's stock worth $33,000 after acquiring an additional 15,300 shares in the last quarter. Finally, Evergreen Wealth Solutions LLC acquired a new position in Luminar Technologies in the 1st quarter worth $39,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Stock Performance

NASDAQ LAZR traded down $0.02 on Thursday, reaching $1.03. 12,094,040 shares of the stock traded hands, compared to its average volume of 15,403,785. The company has a fifty day moving average price of $0.86 and a 200-day moving average price of $1.25. Luminar Technologies has a 12 month low of $0.73 and a 12 month high of $3.69. The company has a market cap of $508.57 million, a price-to-earnings ratio of -1.16 and a beta of 1.61.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. The firm had revenue of $15.49 million during the quarter, compared to analysts' expectations of $17.70 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The company's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Luminar Technologies will post -0.97 earnings per share for the current fiscal year.

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.