Brokerages Set Luminar Technologies, Inc. (NASDAQ:LAZR) Target Price at $7.38

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) has received a consensus rating of "Hold" from the eight research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.38.

A number of research firms recently weighed in on LAZR. The Goldman Sachs Group dropped their target price on Luminar Technologies from $2.00 to $1.50 and set a "sell" rating for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Rosenblatt Securities decreased their target price on shares of Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $4.00 price target (down from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. Finally, Bank of America decreased 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.

Institutional Investors Weigh In On Luminar Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in shares of Luminar Technologies during the second quarter valued at approximately $43,000. Waverly Advisors LLC purchased a new position in Luminar Technologies during the 1st quarter valued at $65,000. Caz Investments LP bought a new position in Luminar Technologies in the 2nd quarter worth $69,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Luminar Technologies in the 1st quarter worth about $65,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Luminar Technologies by 189.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 10,145 shares of the company's stock valued at $66,000 after purchasing an additional 6,642 shares in the last quarter. Hedge funds and other institutional investors own 30.99% of the company's stock.

Luminar Technologies Stock Up 3.1 %

Shares of NASDAQ LAZR traded up $0.06 during mid-day trading on Wednesday, reaching $1.99. 5,696,265 shares of the company were exchanged, compared to its average volume of 7,799,608. Luminar Technologies has a 52 week low of $1.63 and a 52 week high of $8.32. The company's 50 day moving average price is $2.30 and its 200 day moving average price is $2.97. The stock has a market capitalization of $839.56 million, a PE ratio of -1.35 and a beta of 1.48.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly 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 business had revenue of $22.11 million during the quarter, compared to analyst estimates of $27.25 million. On average, sell-side analysts predict that Luminar Technologies will post -1.01 earnings per share for the current year.

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.