Luminar Technologies, Inc. (NASDAQ:LAZR) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) have earned a consensus rating of "Hold" from the eight research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $50.06.

Several research firms have commented on LAZR. The Goldman Sachs Group lowered their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a research report on Thursday, November 14th. Craig Hallum dropped their price target on Luminar Technologies from $22.50 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, November 12th.

Institutional Investors Weigh In On Luminar Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its stake in Luminar Technologies by 30.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company's stock worth $49,000 after purchasing an additional 12,685 shares in the last quarter. Howard Financial Services LTD. lifted its holdings in shares of Luminar Technologies by 24.0% during the third quarter. Howard Financial Services LTD. now owns 72,425 shares of the company's stock worth $65,000 after purchasing an additional 14,000 shares during the period. Tyler Stone Wealth Management boosted its position 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. Entropy Technologies LP acquired a new position in Luminar Technologies in the 4th quarter worth approximately $97,000. Finally, Invst LLC purchased a new position in Luminar Technologies during the 2nd quarter worth approximately $28,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Luminar Technologies Stock Performance

Shares of LAZR traded up $0.41 during mid-day trading on Tuesday, hitting $5.75. 3,203,885 shares of the company traded hands, compared to its average volume of 3,112,360. The stock has a market cap of $191.53 million, a price-to-earnings ratio of -0.43 and a beta of 1.60. The stock has a 50-day moving average price of $6.86 and a two-hundred day moving average price of $12.50. Luminar Technologies has a 1 year low of $4.93 and a 1 year high of $45.68.

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