The Goldman Sachs Group Lowers Luminar Technologies (NASDAQ:LAZR) Price Target to $0.50

Luminar Technologies (NASDAQ:LAZR) had its target price cut by The Goldman Sachs Group from $0.75 to $0.50 in a research report report published on Thursday,Benzinga reports. They currently have a sell rating on the stock.

A number of other equities research analysts have also recently commented on LAZR. JPMorgan Chase & Co. reduced their target price on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Luminar Technologies in a research report on Wednesday, October 2nd. Westpark Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Luminar Technologies in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.00 price target on shares of Luminar Technologies in a research note on Tuesday, September 10th. Finally, Citigroup dropped their price objective on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.34.

Luminar Technologies Trading Down 4.9 %

Shares of NASDAQ:LAZR opened at $0.98 on Thursday. Luminar Technologies has a 12 month low of $0.73 and a 12 month high of $3.69. The company’s fifty day moving average price is $0.86 and its 200 day moving average price is $1.24.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings data on Monday, November 11th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. The firm had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. Luminar Technologies’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.33) earnings per share. On average, analysts anticipate that Luminar Technologies will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Luminar Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Optas LLC purchased a new position in shares of Luminar Technologies in the 2nd quarter valued at about $26,000. Invst LLC purchased a new position in Luminar Technologies in the second quarter valued at about $28,000. Evergreen Wealth Solutions LLC purchased a new position in Luminar Technologies in the first quarter valued at about $39,000. 180 Wealth Advisors LLC lifted its position in shares of Luminar Technologies by 27.0% during the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock valued at $39,000 after acquiring an additional 5,592 shares during the period. Finally, PEAK6 Investments LLC purchased a new stake in shares of Luminar Technologies during the 3rd quarter worth approximately $25,000. Institutional investors and hedge funds own 30.99% of the company’s stock.

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.