Luminar Technologies (NASDAQ:LAZR) Sets New 52-Week Low at $1.21

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) reached a new 52-week low on Thursday . The company traded as low as $1.21 and last traded at $1.21, with a volume of 1356606 shares. The stock had previously closed at $1.25.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LAZR shares. Bank of America reissued an “underperform” rating and set a $1.20 target price (down from $3.50) on shares of Luminar Technologies in a research report on Wednesday, April 10th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price target (down previously from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. Rosenblatt Securities dropped their price objective on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $4.00 price objective (down from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Finally, The Goldman Sachs Group lowered their price target on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.09.

Luminar Technologies Trading Up 2.0 %

The firm has a fifty day simple moving average of $2.06 and a 200-day simple moving average of $2.77.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $22.11 million during the quarter, compared to analysts’ expectations of $27.25 million. Equities research analysts expect that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Luminar Technologies

Several large investors have recently bought and sold shares of LAZR. Morgan Stanley boosted its stake in shares of Luminar Technologies by 326.9% during the third quarter. Morgan Stanley now owns 6,102,415 shares of the company’s stock valued at $27,766,000 after purchasing an additional 4,672,831 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Luminar Technologies in the first quarter worth approximately $22,704,000. State Street Corp lifted its stake in shares of Luminar Technologies by 189.4% in the second quarter. State Street Corp now owns 4,570,495 shares of the company’s stock worth $27,103,000 after acquiring an additional 2,991,427 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Luminar Technologies by 100.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company’s stock worth $17,225,000 after acquiring an additional 2,561,252 shares during the period. Finally, Norges Bank acquired a new position in shares of Luminar Technologies in the fourth quarter worth approximately $10,381,000. 30.99% of the stock is owned by institutional investors and hedge funds.

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.