Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report)'s share price was down 8.7% during trading on Thursday . The stock traded as low as $1.77 and last traded at $1.79. Approximately 4,497,533 shares traded hands during trading, a decline of 46% from the average daily volume of 8,359,083 shares. The stock had previously closed at $1.96.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on LAZR shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $4.00 price objective (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. JPMorgan Chase & Co. restated an "overweight" rating and set a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Citigroup reduced their price target on shares of Luminar Technologies from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Thursday. The Goldman Sachs Group reduced their target price on Luminar Technologies from $2.00 to $1.50 and set a "sell" rating on the stock in a report on Thursday, February 29th. Finally, Bank of America reaffirmed an "underperform" rating and set a $1.20 price target (down previously from $3.50) on shares of Luminar Technologies in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.24.
Read Our Latest Analysis on Luminar Technologies
Luminar Technologies Stock Down 13.8 %
The stock has a market cap of $712.99 million, a price-to-earnings ratio of -1.19 and a beta of 1.54. The business's 50 day simple moving average is $1.74 and its 200 day simple moving average is $2.49.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $27.25 million. Equities research analysts forecast that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Luminar Technologies
Several institutional investors and hedge funds have recently made changes to their positions in LAZR. Arizona State Retirement System raised its position in shares of Luminar Technologies by 10.6% in the third quarter. Arizona State Retirement System now owns 71,898 shares of the company's stock valued at $327,000 after buying an additional 6,916 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Luminar Technologies by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 52,321 shares of the company's stock valued at $103,000 after buying an additional 7,222 shares in the last quarter. Tyler Stone Wealth Management boosted its holdings in shares of Luminar Technologies by 71.8% in the 3rd quarter. Tyler Stone Wealth Management now owns 17,700 shares of the company's stock valued at $81,000 after purchasing an additional 7,400 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Luminar Technologies by 23.7% during the first quarter. Principal Financial Group Inc. now owns 39,157 shares of the company's stock worth $77,000 after purchasing an additional 7,510 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Luminar Technologies by 27.9% in the fourth quarter. Victory Capital Management Inc. now owns 34,637 shares of the company's stock valued at $117,000 after buying an additional 7,564 shares during the period. Institutional investors and hedge funds own 30.99% of the company's stock.
Luminar Technologies Company Profile
(
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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