Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $3.74 Average Target Price from Brokerages

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been given an average rating of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.74.

LAZR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.00 price objective on shares of Luminar Technologies in a research report on Tuesday, September 10th. Rosenblatt Securities dropped their price target on Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Citigroup reduced their price target on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Westpark Capital reiterated a “buy” rating and issued a $9.00 price target on shares of Luminar Technologies in a research note on Tuesday, August 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LAZR. Optas LLC bought a new stake in Luminar Technologies during the second quarter worth approximately $26,000. Invst LLC purchased a new stake in Luminar Technologies during the 2nd quarter valued at $28,000. Evergreen Wealth Solutions LLC bought a new stake in Luminar Technologies in the first quarter worth $39,000. 180 Wealth Advisors LLC boosted its stake in Luminar Technologies by 27.0% during the second quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock worth $39,000 after buying an additional 5,592 shares during the period. Finally, Algert Global LLC bought a new position in Luminar Technologies during the second quarter valued at $42,000. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Trading Down 8.9 %

Shares of NASDAQ:LAZR opened at $0.82 on Wednesday. The stock has a 50 day moving average of $1.04 and a 200 day moving average of $1.42. The company has a market cap of $365.37 million, a PE ratio of -0.60 and a beta of 1.61. Luminar Technologies has a 12-month low of $0.73 and a 12-month high of $4.57.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $16.50 million during the quarter, compared to the consensus estimate of $20.36 million. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.37) earnings per share. Equities research analysts predict that Luminar Technologies will post -0.97 earnings per share for the current fiscal year.

Luminar Technologies Company Profile

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.