Brokerages Set Luminar Technologies, Inc. (NASDAQ:LAZR) Target Price at $50.06

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $50.06.

A number of research analysts have recently commented on LAZR shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price objective on shares of Luminar Technologies in a report on Wednesday, October 2nd. Craig Hallum dropped their price target on shares of 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, The Goldman Sachs Group reduced their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a research report on Thursday, November 14th.

Luminar Technologies Stock Down 11.4 %

Shares of NASDAQ:LAZR opened at $7.83 on Friday. Luminar Technologies has a fifty-two week low of $4.93 and a fifty-two week high of $53.48. The firm’s 50 day moving average price is $9.01 and its 200 day moving average price is $14.24. The stock has a market cap of $260.84 million, a price-to-earnings ratio of -0.59 and a beta of 1.60.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings data on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Luminar Technologies’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the firm posted ($4.95) earnings per share. On average, equities analysts anticipate that Luminar Technologies will post -14.2 EPS for the current year.

Institutional Trading of Luminar Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC increased its stake in Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock valued at $757,000 after purchasing an additional 694,315 shares during the period. LRI Investments LLC grew its holdings in shares of Luminar Technologies by 32,352.8% during the third quarter. LRI Investments LLC now owns 162,264 shares of the company’s stock worth $146,000 after buying an additional 161,764 shares during the last quarter. Caz Investments LP increased its position in Luminar Technologies by 100.0% in the 3rd quarter. Caz Investments LP now owns 300,000 shares of the company’s stock valued at $270,000 after acquiring an additional 150,000 shares during the period. Virtu Financial LLC purchased a new stake in Luminar Technologies during the 3rd quarter valued at approximately $316,000. Finally, Main Management ETF Advisors LLC purchased a new position in shares of Luminar Technologies in the 3rd quarter valued at approximately $457,000. Hedge funds and other institutional investors 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.