Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $1.63 and last traded at $1.68, with a volume of 2317043 shares. The stock had previously closed at $1.71.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on LAZR shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Rosenblatt Securities dropped their target price on Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group lowered their price objective on Luminar Technologies from $2.00 to $1.50 and set a "sell" rating on the stock in a research report on Thursday, February 29th. Finally, Bank of America lowered their price objective on Luminar Technologies from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.29.
Read Our Latest Analysis on Luminar Technologies
Luminar Technologies Stock Performance
The company has a 50-day simple moving average of $2.38 and a two-hundred day simple moving average of $3.14. The firm has a market capitalization of $712.99 million, a P/E ratio of -1.15 and a beta of 1.51.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $22.11 million for the quarter, compared to analysts' expectations of $27.25 million. As a group, research analysts forecast that Luminar Technologies, Inc. will post -1.03 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Luminar Technologies
Hedge funds have recently added to or reduced their stakes in the company. Vahanian & Associates Financial Planning Inc. purchased a new position in Luminar Technologies in the 4th quarter worth approximately $41,000. Leo Wealth LLC bought a new stake in Luminar Technologies in the 4th quarter worth approximately $43,000. Russell Investments Group Ltd. bought a new stake in Luminar Technologies in the 2nd quarter worth approximately $43,000. Brave Asset Management Inc. bought a new stake in Luminar Technologies in the 4th quarter worth approximately $49,000. Finally, Ethic Inc. bought a new stake in Luminar Technologies in the 4th quarter worth approximately $49,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.
Luminar Technologies Company Profile
(
Get Free Report)
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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