Luminar Technologies (NASDAQ:LAZR) Hits New 1-Year Low at $1.87

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.87 and last traded at $1.91, with a volume of 1687206 shares traded. The stock had previously closed at $1.93.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LAZR shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $4.00 target price (down previously from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Bank of America cut their price objective on Luminar Technologies from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities cut their price objective on Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group cut their price objective on Luminar Technologies from $2.00 to $1.50 and set a "sell" rating on the stock in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Luminar Technologies currently has a consensus rating of "Hold" and a consensus target price of $7.29.

Luminar Technologies Stock Up 1.0 %

The company has a 50 day moving average of $2.60 and a 200-day moving average of $3.40.

Institutional Trading of Luminar Technologies

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Luminar Technologies by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company's stock valued at $86,627,000 after acquiring an additional 1,671,708 shares during the period. BlackRock Inc. lifted its position in shares of Luminar Technologies by 9.0% during the 2nd quarter. BlackRock Inc. now owns 19,405,443 shares of the company's stock valued at $133,509,000 after acquiring an additional 1,602,206 shares during the period. Macquarie Group Ltd. lifted its position in shares of Luminar Technologies by 33.1% during the 4th quarter. Macquarie Group Ltd. now owns 7,745,035 shares of the company's stock valued at $38,338,000 after acquiring an additional 1,928,021 shares during the period. Morgan Stanley lifted its position in shares of Luminar Technologies by 326.9% during the 3rd quarter. Morgan Stanley now owns 6,102,415 shares of the company's stock valued at $27,766,000 after acquiring an additional 4,672,831 shares during the period. Finally, State Street Corp lifted its position in shares of Luminar Technologies by 12.0% during the 2nd quarter. State Street Corp now owns 5,994,332 shares of the company's stock valued at $41,241,000 after acquiring an additional 642,796 shares during the period. 60.82% of the stock is currently owned by institutional investors.

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.

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