Luminar Technologies, Inc. (NASDAQ:LAZR) Given Average Rating of "Hold" by Brokerages

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) has been given an average recommendation of "Hold" by the seven research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $6.39.

A number of brokerages have recently issued reports on LAZR. The Goldman Sachs Group cut their target price on Luminar Technologies from $2.00 to $1.50 and set a "sell" rating for the company in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. Rosenblatt Securities cut their target price on Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Bank of America reaffirmed 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, April 10th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th.

Luminar Technologies Stock Up 5.1 %

LAZR traded up $0.07 on Friday, hitting $1.44. 4,324,624 shares of the company traded hands, compared to its average volume of 7,708,264. The company has a 50 day moving average of $1.87 and a 200-day moving average of $2.61. The stock has a market capitalization of $607.52 million, a PE ratio of -0.98 and a beta of 1.48. Luminar Technologies has a 12-month low of $1.21 and a 12-month high of $8.32.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). The firm had revenue of $22.11 million during the quarter, compared to analyst estimates of $27.25 million. On average, research analysts anticipate that Luminar Technologies will post -1.01 EPS for the current year.

Institutional Investors Weigh In On Luminar Technologies

A number of large investors have recently bought and sold shares of LAZR. Exchange Traded Concepts LLC grew its holdings in Luminar Technologies by 100.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company's stock valued at $17,225,000 after buying an additional 2,561,252 shares during the last quarter. Vanguard Group Inc. grew its holdings in Luminar Technologies by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company's stock valued at $86,627,000 after buying an additional 1,671,708 shares during the last quarter. Raymond James & Associates grew its holdings in Luminar Technologies by 195.9% during the 3rd quarter. Raymond James & Associates now owns 714,128 shares of the company's stock valued at $3,249,000 after buying an additional 472,778 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Luminar Technologies by 48.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company's stock valued at $2,407,000 after buying an additional 232,024 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in Luminar Technologies by 56.9% during the 3rd quarter. Blair William & Co. IL now owns 612,249 shares of the company's stock valued at $2,786,000 after buying an additional 221,929 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company's stock.

About Luminar Technologies

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.