Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $50.06 Consensus PT from Brokerages

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Two investment 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 12 month target price among analysts that have issued ratings on the stock in the last year is $50.06.

Several equities research analysts have commented on the stock. Craig Hallum dropped their price objective on shares of Luminar Technologies from $22.50 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, November 12th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $30.00 price objective on shares of Luminar Technologies in a report on Wednesday, October 2nd. The Goldman Sachs Group lowered their target price on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating on the stock in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $15.00 price target on shares of Luminar Technologies in a research report on Tuesday, September 10th.

Luminar Technologies Trading Up 8.5 %

Shares of LAZR stock traded up $0.52 during trading hours on Friday, hitting $6.66. 4,776,897 shares of the company were exchanged, compared to its average volume of 2,651,206. The stock has a market capitalization of $221.84 million, a price-to-earnings ratio of -0.50 and a beta of 1.53. The firm has a fifty day simple moving average of $9.39 and a 200 day simple moving average of $14.60. Luminar Technologies has a 52-week low of $4.93 and a 52-week high of $53.48.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its earnings results on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.30) by $0.90. The firm had revenue of $15.49 million during the quarter, compared to analysts' expectations of $17.70 million. During the same period in the prior year, the business earned ($4.95) earnings per share. The business's quarterly revenue was down 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Luminar Technologies will post -14.2 EPS for the current year.

Hedge Funds Weigh In On Luminar Technologies

A number of institutional investors have recently made changes to their positions in LAZR. Barclays PLC lifted its holdings in shares of Luminar Technologies by 469.2% during the 3rd quarter. Barclays PLC now owns 842,288 shares of the company's stock worth $757,000 after acquiring an additional 694,315 shares during the last quarter. LRI Investments LLC raised its position in Luminar Technologies by 32,352.8% during the third quarter. LRI Investments LLC now owns 162,264 shares of the company's stock valued at $146,000 after purchasing an additional 161,764 shares in the last quarter. Caz Investments LP lifted its stake in Luminar Technologies by 100.0% during the third quarter. Caz Investments LP now owns 300,000 shares of the company's stock worth $270,000 after purchasing an additional 150,000 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Luminar Technologies in the 3rd quarter worth about $316,000. Finally, Main Management ETF Advisors LLC bought a new position in shares of Luminar Technologies during the 3rd quarter valued at about $457,000. 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.