Luminar Technologies (NASDAQ:LAZR) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• Luminar Technologies has received a "sell (E+)" rating from Weiss Ratings, reflecting concerns about the company's financial performance and market outlook.
• The company reported a loss of ($1.49) earnings per share, missing analyst estimates and showing a 5% year-over-year revenue decline.
• Multiple institutional investors have recently increased their stakes in Luminar, indicating growing interest despite its current challenges, with institutional ownership at 30.99% of the stock.

Luminar Technologies (NASDAQ:LAZR - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Luminar Technologies Stock Up 7.8%

Shares of Luminar Technologies stock opened at $2.21 on Wednesday. Luminar Technologies has a 52-week low of $1.58 and a 52-week high of $18.60. The company's 50-day simple moving average is $2.15 and its 200-day simple moving average is $3.22. The firm has a market cap of $151.96 million, a price-to-earnings ratio of -0.79 and a beta of 2.05.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.30). The firm had revenue of $15.63 million for the quarter, compared to analyst estimates of $17.27 million. During the same quarter last year, the business posted ($0.18) EPS. The firm's revenue for the quarter was down 5.0% on a year-over-year basis. Luminar Technologies has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Luminar Technologies will post -14.2 EPS for the current year.

Institutional Trading of Luminar Technologies

Several institutional investors and hedge funds have recently modified their holdings of LAZR. Quarry LP purchased a new stake in shares of Luminar Technologies in the first quarter valued at about $27,000. Jump Financial LLC purchased a new stake in shares of Luminar Technologies in the second quarter valued at about $32,000. GAMMA Investing LLC lifted its stake 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 valued at $51,000 after buying an additional 8,666 shares during the period. CWM LLC lifted its stake 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 valued at $53,000 after buying an additional 9,114 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Luminar Technologies during the second quarter valued at approximately $54,000. Hedge funds and other 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.

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