Luminar Technologies (NASDAQ:LAZR) Announces Quarterly Earnings Results, Misses Estimates By $0.30 EPS

Key Points

• Luminar Technologies reported quarterly earnings of ($1.07) per share, surpassing expectations by $0.12 against a consensus estimate of ($1.19).
• The company's stock closed at $3.01 after experiencing a trading volume significantly higher than its average, with a market capitalization of $141.11 million.
• Analysts currently have a consensus rating of "Hold" on the stock, with an average target price set at $40.33.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.30), Briefing.com reports. The firm had revenue of $15.63 million for the quarter, compared to the consensus estimate of $17.27 million. During the same period last year, the business earned ($0.18) earnings per share. The business's quarterly revenue was down 5.0% compared to the same quarter last year. Luminar Technologies updated its FY 2025 guidance to EPS.

Luminar Technologies Trading Down 6.5%

LAZR traded down $0.16 during midday trading on Friday, reaching $2.30. The company's stock had a trading volume of 5,543,757 shares, compared to its average volume of 4,359,828. The firm has a market capitalization of $107.82 million, a price-to-earnings ratio of -0.82 and a beta of 1.96. Luminar Technologies has a 1 year low of $2.28 and a 1 year high of $18.60. The stock's 50-day moving average is $2.93 and its 200-day moving average is $4.18.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Luminar Technologies in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Luminar Technologies presently has an average rating of "Hold" and an average price target of $30.40.

Institutional Investors Weigh In On Luminar Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP lifted its stake in shares of Luminar Technologies by 71.0% in the second quarter. Engineers Gate Manager LP now owns 33,185 shares of the company's stock worth $95,000 after buying an additional 13,778 shares in the last quarter. Raymond James Financial Inc. raised its position in Luminar Technologies by 49.1% in the second quarter. Raymond James Financial Inc. now owns 23,612 shares of the company's stock worth $68,000 after acquiring an additional 7,773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Luminar Technologies by 45.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,979 shares of the company's stock worth $63,000 after purchasing an additional 6,820 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Luminar Technologies in the second quarter worth $54,000. Finally, Jump Financial LLC purchased a new stake in shares of Luminar Technologies in the second quarter worth $32,000. Hedge funds and other institutional investors own 30.99% of the company's stock.

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.