Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $1.99, but opened at $2.10. Luminar Technologies shares last traded at $2.12, with a volume of 1,225,449 shares.
Analyst Upgrades and Downgrades
LAZR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $4.00 price objective (down previously from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. Rosenblatt Securities reduced their price target on shares of Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $8.00 price target (down previously from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. The Goldman Sachs Group reduced their price target on shares of Luminar Technologies from $2.00 to $1.50 and set a "sell" rating for the company in a research report on Thursday, February 29th. Finally, Bank of America reduced their price target on shares of Luminar Technologies from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.38.
View Our Latest Analysis on Luminar Technologies
Luminar Technologies Trading Up 1.0 %
The stock has a market capitalization of $848.00 million, a price-to-earnings ratio of -1.37 and a beta of 1.48. The stock's 50 day moving average is $2.28 and its 200 day moving average is $2.96.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). The company had revenue of $22.11 million for the quarter, compared to analysts' expectations of $27.25 million. On average, sell-side analysts anticipate that Luminar Technologies, Inc. will post -1.01 EPS for the current year.
Institutional Investors Weigh In On Luminar Technologies
A number of large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in Luminar Technologies by 17.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,762 shares of the company's stock valued at $512,000 after purchasing an additional 4,925 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Luminar Technologies by 4.7% in the 1st quarter. HighTower Advisors LLC now owns 92,048 shares of the company's stock valued at $1,444,000 after purchasing an additional 4,153 shares in the last quarter. Citigroup Inc. lifted its holdings in Luminar Technologies by 30.5% in the 1st quarter. Citigroup Inc. now owns 146,881 shares of the company's stock valued at $2,296,000 after purchasing an additional 34,316 shares in the last quarter. BlackRock Inc. lifted its holdings in Luminar Technologies by 23.0% in the 1st quarter. BlackRock Inc. now owns 4,623,810 shares of the company's stock valued at $72,272,000 after purchasing an additional 865,041 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Luminar Technologies by 1.0% in the 1st quarter. Allianz Asset Management GmbH now owns 3,023,514 shares of the company's stock valued at $47,258,000 after purchasing an additional 30,900 shares in the last quarter. 30.99% of the stock is 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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