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

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have received an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $53.86.

Separately, The Goldman Sachs Group lowered their price objective on Luminar Technologies from $3.50 to $2.00 and set a “sell” rating for the company in a research report on Thursday, April 10th.

Institutional Investors Weigh In On Luminar Technologies

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in shares of Luminar Technologies during the 4th quarter worth approximately $40,000. GAMMA Investing LLC lifted its position in Luminar Technologies by 1,077.9% in the first quarter. GAMMA Investing LLC now owns 9,470 shares of the company’s stock valued at $51,000 after acquiring an additional 8,666 shares during the last quarter. DnB Asset Management AS acquired a new position in Luminar Technologies in the fourth quarter valued at $91,000. Entropy Technologies LP purchased a new position in shares of Luminar Technologies during the fourth quarter worth about $97,000. Finally, Stifel Financial Corp increased its position in shares of Luminar Technologies by 118.5% during the third quarter. Stifel Financial Corp now owns 141,005 shares of the company’s stock worth $127,000 after purchasing an additional 76,470 shares in the last quarter. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Trading Down 9.3 %

NASDAQ:LAZR opened at $4.01 on Thursday. Luminar Technologies has a 12-month low of $3.92 and a 12-month high of $34.80. The firm has a market cap of $169.98 million, a PE ratio of -0.30 and a beta of 1.86. The stock has a fifty day moving average price of $5.56 and a 200 day moving average price of $8.04.

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.