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

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been given a consensus rating of “Hold” by the seven research firms that are currently covering the company, MarketBeat reports. Two research 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 1-year price objective among brokerages that have covered the stock in the last year is $3.74.

Several equities research analysts have recently weighed in on LAZR shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $2.00 price objective on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Westpark Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Citigroup decreased their price target on Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. JPMorgan Chase & Co. decreased their price target on Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.00 price target on shares of Luminar Technologies in a research report on Tuesday, September 10th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Luminar Technologies by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock worth $86,627,000 after buying an additional 1,671,708 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Luminar Technologies during the 1st quarter worth $214,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Luminar Technologies by 0.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock worth $3,675,000 after buying an additional 14,604 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Luminar Technologies by 30.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock worth $294,000 after buying an additional 34,566 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Luminar Technologies by 23.7% during the 1st quarter. Principal Financial Group Inc. now owns 39,157 shares of the company’s stock worth $77,000 after buying an additional 7,510 shares in the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Stock Up 1.2 %

Shares of LAZR opened at $0.80 on Friday. Luminar Technologies has a 12-month low of $0.73 and a 12-month high of $3.99. The firm has a market capitalization of $356.14 million, a price-to-earnings ratio of -0.58 and a beta of 1.60. The stock’s 50-day moving average price is $0.89 and its 200 day moving average price is $1.31.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. The company had revenue of $16.50 million during the quarter, compared to the consensus estimate of $20.36 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts expect that Luminar Technologies will post -0.97 EPS for the current year.

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.