Luminar Technologies, Inc. (NASDAQ:LAZR) has been given an average recommendation of "Buy" by the ten research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.13.
A number of analysts recently weighed in on the company. Robert W. Baird upgraded Luminar Technologies from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $22.00 to $30.00 in a report on Friday, June 25th. Zacks Investment Research upgraded Luminar Technologies from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Berenberg Bank assumed coverage on Luminar Technologies in a report on Tuesday, May 25th. They issued a "hold" rating and a $18.00 price objective for the company.
Shares of NASDAQ:LAZR opened at $16.53 on Tuesday. The company has a fifty day moving average of $17.41 and a 200-day moving average of $20.84. Luminar Technologies has a 52-week low of $9.95 and a 52-week high of $47.80.
Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Thursday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). The company had revenue of $6.31 million for the quarter, compared to analyst estimates of $6.38 million. On average, sell-side analysts anticipate that Luminar Technologies will post -0.46 EPS for the current year.
In other Luminar Technologies news, Director Matthew Simoncini bought 22,727 shares of the stock in a transaction that occurred on Thursday, July 1st. The shares were bought at an average price of $22.00 per share, for a total transaction of $499,994.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Austin Russell sold 10,500,000 shares of the company's stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $21.00, for a total transaction of $220,500,000.00. The disclosure for this sale can be found here. 43.25% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of LAZR. US Bancorp DE increased its stake in shares of Luminar Technologies by 81.1% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company's stock worth $73,000 after purchasing an additional 1,350 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Luminar Technologies by 196.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 120,630 shares of the company's stock worth $2,932,000 after buying an additional 79,876 shares during the period. Bank of Nova Scotia bought a new position in Luminar Technologies in the 1st quarter worth approximately $286,000. BlackRock Inc. bought a new position in Luminar Technologies in the 1st quarter worth approximately $80,816,000. Finally, GSA Capital Partners LLP bought a new position in Luminar Technologies in the 1st quarter worth approximately $266,000. Institutional investors own 16.83% of the company's stock.
Luminar Technologies Company Profile
Luminar Technologies, Inc operates as a vehicle sensor and software company for passenger cars and commercial trucks. The company operates in two segments, Autonomy Solutions and Other Component Sales. The Autonomy Solutions segment designs, manufactures, and sells lidar sensors, and related perception and autonomy software solutions for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and other related industries.
See Also: When is a capital gain realized?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Luminar Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Luminar Technologies wasn't on the list.
While Luminar Technologies currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here