Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report)'s share price was down 10.4% during trading on Friday . The company traded as low as $9.72 and last traded at $9.73. Approximately 448,384 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,084,595 shares. The stock had previously closed at $10.86.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on LAZR shares. Rosenblatt Securities reissued a "neutral" rating and set a $30.00 price objective on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Citigroup dropped their price target on shares of Luminar Technologies from $135.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. decreased their price objective on shares of Luminar Technologies from $120.00 to $90.00 and set an "overweight" rating on the stock in a research report on Monday, August 19th. Craig Hallum dropped their target price on shares of Luminar Technologies from $22.50 to $15.00 and set a "hold" rating for the company in a report on Tuesday, November 12th. Finally, Westpark Capital restated a "buy" rating and set a $135.00 price target on shares of Luminar Technologies in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $50.06.
Read Our Latest Report on Luminar Technologies
Luminar Technologies Stock Down 17.6 %
The company's fifty day simple moving average is $12.87 and its 200 day simple moving average is $18.16. The firm has a market capitalization of $298.12 million, a PE ratio of -0.67 and a beta of 1.61.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.40) earnings per share for the quarter, beating the consensus estimate 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. The company's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($4.95) earnings per share. Equities research analysts forecast that Luminar Technologies, Inc. will post -14.17 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of LAZR. PEAK6 Investments LLC purchased a new stake in Luminar Technologies in the third quarter worth about $25,000. Optas LLC bought a new stake in shares of Luminar Technologies in the 2nd quarter worth approximately $26,000. Invst LLC purchased a new stake in shares of Luminar Technologies in the 2nd quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Luminar Technologies during the 3rd quarter valued at approximately $31,000. Finally, Tyler Stone Wealth Management raised its stake in Luminar Technologies by 70.5% during 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. 30.99% of the stock is currently owned by institutional investors.
Luminar Technologies Company Profile
(
Get Free Report)
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.
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