Luminar Technologies, Inc. (NASDAQ:LAZR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $50.06.

LAZR has been the topic of several recent research reports. The Goldman Sachs Group cut their target price on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a research note on Thursday, November 14th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Luminar Technologies in a research report on Wednesday, October 2nd. Craig Hallum reduced their price objective on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $15.00 target price on shares of Luminar Technologies in a research note on Tuesday, September 10th.

Luminar Technologies Stock Up 14.1 %

LAZR opened at $6.14 on Friday. Luminar Technologies has a 52 week low of $4.93 and a 52 week high of $53.48. The business has a fifty day simple moving average of $9.62 and a 200-day simple moving average of $14.77. The firm has a market cap of $204.54 million, a P/E ratio of -0.46 and a beta of 1.53.

Luminar Technologies (NASDAQ:LAZR) last announced its earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, beating analysts’ consensus estimates of ($3.30) by $0.90. The firm had revenue of $15.49 million for the quarter, compared to analysts’ expectations of $17.70 million. The business’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business earned ($4.95) earnings per share. Sell-side analysts expect that Luminar Technologies will post -14.2 earnings per share for the current year.

Hedge Funds Weigh In On Luminar Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PEAK6 Investments LLC acquired a new position in Luminar Technologies in the third quarter valued at $25,000. Invst LLC purchased a new stake in shares of Luminar Technologies in the 2nd quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Luminar Technologies in the 3rd quarter valued at about $31,000. Tyler Stone Wealth Management grew its stake in Luminar Technologies by 70.5% during the 3rd quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock worth $33,000 after buying an additional 15,300 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Luminar Technologies during the third quarter worth approximately $40,000. 30.99% of the stock is owned by institutional investors and hedge funds.

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.