Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $53.86 Consensus Target Price from Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $53.86.

Several research analysts have commented on LAZR shares. The Goldman Sachs Group dropped their price target on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th.

Luminar Technologies Trading Down 4.5%

NASDAQ:LAZR traded down $0.17 during mid-day trading on Friday, reaching $3.57. 1,202,981 shares of the stock were exchanged, compared to its average volume of 2,048,330. The business has a fifty day moving average price of $4.29 and a 200 day moving average price of $6.00. The firm has a market capitalization of $151.33 million, a PE ratio of -0.27 and a beta of 2.06. Luminar Technologies has a 1-year low of $3.30 and a 1-year high of $32.70.

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

Institutional Trading of Luminar Technologies

Large investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Luminar Technologies in the first quarter valued at about $27,000. BNP Paribas Financial Markets acquired a new stake in shares of Luminar Technologies during the fourth quarter worth about $40,000. GAMMA Investing LLC raised its position in shares of Luminar Technologies by 1,077.9% during the first quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock worth $51,000 after purchasing an additional 8,666 shares during the period. CWM LLC raised its position in shares of Luminar Technologies by 1,194.5% during the first quarter. CWM LLC now owns 9,877 shares of the company's stock worth $53,000 after purchasing an additional 9,114 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Luminar Technologies during the first quarter worth about $90,000. 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.