Luminar Technologies (NASDAQ:LAZR) Reaches New 12-Month Low at $1.21

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.21 and last traded at $1.21, with a volume of 1356606 shares traded. The stock had previously closed at $1.25.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LAZR shares. Bank of America reiterated an "underperform" rating and issued a $1.20 target price (down from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. JPMorgan Chase & Co. restated an "overweight" rating and set a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. The Goldman Sachs Group dropped their price objective on Luminar Technologies from $2.00 to $1.50 and set a "sell" rating on the stock in a research note on Thursday, February 29th. Rosenblatt Securities dropped their price objective on Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $4.00 price objective (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Luminar Technologies has an average rating of "Hold" and an average target price of $7.09.

Luminar Technologies Trading Up 0.8 %

The stock has a market capitalization of $531.58 million, a PE ratio of -0.86 and a beta of 1.48. The firm has a 50-day moving average price of $2.03 and a 200-day moving average price of $2.76.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $27.25 million. Sell-side analysts expect that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Luminar Technologies

Large investors have recently added to or reduced their stakes in the company. Vahanian & Associates Financial Planning Inc. bought a new position in Luminar Technologies in the 4th quarter worth about $41,000. 180 Wealth Advisors LLC lifted its position in Luminar Technologies by 65.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 20,702 shares of the company's stock worth $41,000 after buying an additional 8,161 shares during the last quarter. Leo Wealth LLC purchased a new position in Luminar Technologies in the 4th quarter worth approximately $43,000. Russell Investments Group Ltd. purchased a new position in Luminar Technologies in the 2nd quarter worth approximately $43,000. Finally, Brave Asset Management Inc. purchased a new position in Luminar Technologies in the 4th quarter worth approximately $49,000. 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.