Luminar Technologies, Inc. (NASDAQ:LAZR) Given Average Rating of "Hold" by Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) has earned a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned 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 $53.86.

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

Luminar Technologies Trading Up 3.1%

NASDAQ:LAZR traded up $0.08 during trading hours on Tuesday, hitting $2.69. 2,701,229 shares of the company were exchanged, compared to its average volume of 2,209,846. The stock has a market capitalization of $126.11 million, a price-to-earnings ratio of -0.41 and a beta of 2.01. Luminar Technologies has a one year low of $2.52 and a one year high of $32.70. The company has a fifty day simple moving average of $3.66 and a 200 day simple moving average of $5.11.

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

Hedge Funds Weigh In On Luminar Technologies

A number of hedge funds have recently added to or reduced their stakes in LAZR. Quarry LP bought a new position in Luminar Technologies during the first quarter valued at $27,000. BNP Paribas Financial Markets purchased a new position in shares of Luminar Technologies during the 4th quarter valued at $40,000. GAMMA Investing LLC grew its stake in shares of Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock worth $51,000 after acquiring an additional 8,666 shares during the period. CWM LLC increased its holdings in Luminar Technologies by 1,194.5% in the 1st quarter. CWM LLC now owns 9,877 shares of the company's stock worth $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 valued at about $90,000. Institutional investors and hedge funds 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.