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

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

LAZR has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price target on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a 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 Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Luminar Technologies in the 4th quarter valued at approximately $1,452,000. Millennium Management LLC bought a new position in shares of Luminar Technologies in the 4th quarter valued at about $608,000. BNP Paribas Financial Markets acquired a new position in shares of Luminar Technologies during the 4th quarter worth about $40,000. MYDA Advisors LLC acquired a new position in shares of Luminar Technologies during the 4th quarter worth about $480,000. Finally, GAMMA Investing LLC raised its holdings in shares of Luminar Technologies by 1,077.9% in the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock valued at $51,000 after purchasing an additional 8,666 shares during the period. 30.99% of the stock is currently owned by institutional investors.

Luminar Technologies Stock Down 1.4%

Shares of NASDAQ LAZR traded down $0.04 during mid-day trading on Tuesday, hitting $2.91. 4,782,313 shares of the company were exchanged, compared to its average volume of 2,236,288. Luminar Technologies has a 1-year low of $2.52 and a 1-year high of $32.70. The stock has a 50 day simple moving average of $3.63 and a 200-day simple moving average of $5.06. The firm has a market cap of $136.42 million, a price-to-earnings ratio of -0.45 and a beta of 2.01.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, topping the consensus estimate 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 business's quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. Analysts anticipate that Luminar Technologies will post -14.2 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.