Shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $1.65, but opened at $1.76. Luminar Technologies shares last traded at $1.89, with a volume of 13,624,773 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group cut their target price 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. Bank of America reaffirmed an "underperform" rating and issued a $1.20 price target (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Rosenblatt Securities lowered their price target on shares of Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $4.00 price target (down previously from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $8.00 price target (down previously from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Two research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.39.
Read Our Latest Stock Analysis on LAZR
Luminar Technologies Trading Up 18.8 %
The firm's 50-day moving average price is $1.75 and its 200-day moving average price is $2.49. The stock has a market capitalization of $826.90 million, a PE ratio of -1.33 and a beta of 1.54.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). The firm had revenue of $22.11 million for the quarter, compared to analyst estimates of $27.25 million. On average, equities research analysts predict that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Luminar Technologies
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Luminar Technologies by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company's stock worth $86,627,000 after purchasing an additional 1,671,708 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Luminar Technologies by 100.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company's stock worth $17,225,000 after purchasing an additional 2,561,252 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Luminar Technologies by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,030,290 shares of the company's stock worth $9,238,000 after purchasing an additional 126,075 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Luminar Technologies by 0.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company's stock worth $3,675,000 after buying an additional 14,604 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Luminar Technologies by 39.3% during the 4th quarter. Raymond James & Associates now owns 994,903 shares of the company's stock worth $3,353,000 after buying an additional 280,775 shares during the period. Hedge funds and other institutional investors own 30.99% of the company's stock.
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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