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

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) have received an average recommendation of "Hold" from the seven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $53.86.

Several research analysts recently weighed in on LAZR shares. The Goldman Sachs Group decreased their price objective on shares of 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. reissued a "neutral" rating on shares of Luminar Technologies in a report on Thursday, May 15th.

Institutional Trading of Luminar Technologies

A number of institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Luminar Technologies in the 1st quarter worth approximately $27,000. BNP Paribas Financial Markets purchased a new position in Luminar Technologies in the 4th quarter worth approximately $40,000. GAMMA Investing LLC raised its stake in shares of Luminar Technologies by 1,077.9% in 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 last quarter. CWM LLC boosted its holdings in shares of Luminar Technologies by 1,194.5% during the 1st quarter. CWM LLC now owns 9,877 shares of the company's stock valued at $53,000 after acquiring an additional 9,114 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Luminar Technologies in the 1st quarter worth approximately $90,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Luminar Technologies Price Performance

NASDAQ:LAZR traded down $0.09 on Friday, reaching $3.43. 1,733,399 shares of the company's stock were exchanged, compared to its average volume of 2,057,550. The firm has a market cap of $160.79 million, a price-to-earnings ratio of -0.26 and a beta of 2.01. The stock has a fifty day simple moving average of $4.19 and a 200-day simple moving average of $5.77. Luminar Technologies has a 52 week low of $3.30 and a 52 week high of $32.70.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) EPS for the quarter, topping the consensus estimate of ($1.75) by $0.25. The business had revenue of $18.89 million during the quarter, compared to the consensus estimate of $16.27 million. During the same period last year, the business posted ($0.19) earnings per share. The firm's quarterly revenue was down 10.0% on a year-over-year basis. As a group, sell-side analysts predict that Luminar Technologies will post -14.2 EPS for the current year.

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.