Brokerages Set Luminar Technologies, Inc. (NASDAQ:LAZR) Price Target at $53.86

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) has been assigned an average recommendation of "Hold" from the seven ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $53.86.

Several equities research analysts recently issued reports on LAZR shares. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Luminar Technologies in a report on Thursday, May 15th. The Goldman Sachs Group cut their price objective on shares of Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a report on Thursday, April 10th.

Luminar Technologies Stock Performance

Luminar Technologies stock traded up $0.42 during mid-day trading on Friday, hitting $3.47. 6,802,513 shares of the company traded hands, compared to its average volume of 2,451,217. Luminar Technologies has a one year low of $2.52 and a one year high of $27.30. The stock has a market cap of $162.67 million, a price-to-earnings ratio of -0.53 and a beta of 1.94. The stock has a fifty day moving average price of $3.33 and a 200-day moving average price of $4.71.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.75) by $0.25. The company had revenue of $18.89 million for the quarter, compared to analysts' expectations of $16.27 million. The firm's revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share. Sell-side analysts predict that Luminar Technologies will post -14.2 EPS for the current year.

Institutional Trading of Luminar Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in Luminar Technologies during the fourth quarter worth approximately $1,452,000. Royal Bank of Canada lifted its stake in Luminar Technologies by 20,160.0% during the first quarter. Royal Bank of Canada now owns 231,572 shares of the company's stock worth $1,248,000 after purchasing an additional 230,429 shares during the last quarter. Invesco Ltd. purchased a new stake in Luminar Technologies during the first quarter worth approximately $881,000. Squarepoint Ops LLC lifted its stake in Luminar Technologies by 187.9% in the fourth quarter. Squarepoint Ops LLC now owns 75,542 shares of the company's stock valued at $406,000 after buying an additional 161,477 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Luminar Technologies in the first quarter valued at approximately $665,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Company Profile

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.