Brokerages Set Luminar Technologies, Inc. (NASDAQ:LAZR) PT at $4.45

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) has been assigned an average rating of "Hold" from the six research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.45.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $8.00 price target (down previously from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Citigroup cut their price target on Luminar Technologies from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Thursday, May 9th. Bank of America reiterated an "underperform" rating and set a $1.20 price target (down previously from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. The Goldman Sachs Group cut their price target on Luminar Technologies from $2.00 to $1.50 and set a "sell" rating for the company in a research note on Thursday, February 29th. Finally, Rosenblatt Securities cut their price target on Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, February 28th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Luminar Technologies by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company's stock valued at $53,239,000 after acquiring an additional 1,319,480 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Luminar Technologies by 100.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company's stock valued at $17,225,000 after acquiring an additional 2,561,252 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Luminar Technologies by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,030,290 shares of the company's stock valued at $9,238,000 after acquiring an additional 126,075 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Luminar Technologies by 0.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company's stock valued at $3,675,000 after acquiring an additional 14,604 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Luminar Technologies by 39.3% in the 4th quarter. Raymond James & Associates now owns 994,903 shares of the company's stock valued at $3,353,000 after acquiring an additional 280,775 shares in the last quarter. Institutional investors own 30.99% of the company's stock.

Luminar Technologies Stock Performance

NASDAQ:LAZR traded up $0.04 during trading on Monday, reaching $1.47. The company's stock had a trading volume of 4,532,796 shares, compared to its average volume of 8,284,790. The firm has a market cap of $655.06 million, a price-to-earnings ratio of -1.07 and a beta of 1.62. The firm has a 50 day moving average of $1.55 and a 200-day moving average of $2.19. Luminar Technologies has a 12 month low of $1.21 and a 12 month high of $8.32.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.30). The business had revenue of $20.97 million during the quarter, compared to the consensus estimate of $22.09 million. Equities research analysts forecast that Luminar Technologies will post -0.99 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.