Shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.63 and last traded at $1.65, with a volume of 4256394 shares changing hands. The stock had previously closed at $1.76.
Analyst Ratings Changes
LAZR has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on shares of Luminar Technologies from $2.00 to $1.50 and set a "sell" rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $8.00 target price (down from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Rosenblatt Securities lowered their price target on Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Bank of America restated an "underperform" rating and issued a $1.20 price objective (down from $3.50) on shares of Luminar Technologies in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.09.
Read Our Latest Research Report on Luminar Technologies
Luminar Technologies Stock Performance
The firm's 50-day simple moving average is $2.21 and its 200-day simple moving average is $2.87. The company has a market capitalization of $607.52 million, a price-to-earnings ratio of -1.05 and a beta of 1.48.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). The company had revenue of $22.11 million during the quarter, compared to analyst estimates of $27.25 million. Equities research analysts forecast that Luminar Technologies, Inc. will post -1.01 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Luminar Technologies in the 4th quarter valued at $67,000. Leo Wealth LLC acquired a new position in Luminar Technologies in the fourth quarter worth about $43,000. Vanguard Group Inc. lifted its stake in Luminar Technologies by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company's stock worth $86,627,000 after purchasing an additional 1,671,708 shares during the period. Legal & General Group Plc boosted its holdings in Luminar Technologies by 101.8% during the fourth quarter. Legal & General Group Plc now owns 4,107,104 shares of the company's stock valued at $13,841,000 after purchasing an additional 2,072,056 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Luminar Technologies by 46.7% during the fourth quarter. Nuveen Asset Management LLC now owns 1,022,153 shares of the company's stock valued at $3,445,000 after purchasing an additional 325,241 shares in the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.
About Luminar Technologies
(
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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