Luminar Technologies Inc (NASDAQ:LAZR)’s stock price rose 5.9% on Wednesday . The stock traded as high as $35.75 and last traded at $33.32. Approximately 13,553,928 shares were traded during trading, an increase of 82% from the average daily volume of 7,449,328 shares. The stock had previously closed at $31.47.
LAZR has been the topic of several recent analyst reports. Northland Securities raised Luminar Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Luminar Technologies in a report on Wednesday, January 6th. They set a “buy” rating and a $40.00 target price on the stock. Smith Barney Citigroup assumed coverage on Luminar Technologies in a report on Wednesday, January 6th. They set a “buy” rating and a $40.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Luminar Technologies in a report on Friday, December 18th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Robert W. Baird assumed coverage on Luminar Technologies in a report on Tuesday, December 22nd. They set a “neutral” rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Luminar Technologies has an average rating of “Buy” and a consensus target price of $37.60.
An institutional investor recently bought a new position in Luminar Technologies stock. Sowell Financial Services LLC bought a new position in Luminar Technologies Inc (NASDAQ:LAZR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,095 shares of the company’s stock, valued at approximately $71,000. 59.18% of the stock is currently owned by institutional investors and hedge funds.
Luminar Technologies, Inc develops and manufactures LiDAR based sensors for vehicles. It offers Iris, a sensor system that increases the visibility of vehicle drivers, as well as allows reacting safely at highway speeds. The company also provides a software that integrates with the sensor and helps the vehicle drivers.
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