Luminar Technologies (NASDAQ:LAZR) Shares Up 3.8%

Shares of Luminar Technologies, Inc. (NASDAQ:LAZRGet Free Report) rose 3.8% on Monday . The stock traded as high as $1.85 and last traded at $1.79. Approximately 1,567,259 shares changed hands during trading, a decline of 82% from the average daily volume of 8,663,972 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

Several brokerages have recently issued reports on LAZR. JPMorgan Chase & Co. reissued an “overweight” rating and set a $8.00 price target (down previously from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. The Goldman Sachs Group reduced their price objective on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a report on Thursday, February 29th. Rosenblatt Securities cut their price target on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Citigroup cut their price target on shares of Luminar Technologies from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Bank of America reissued an “underperform” rating and issued a $1.20 price target (down from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Luminar Technologies currently has a consensus rating of “Hold” and a consensus target price of $4.45.

Get Our Latest Stock Analysis on Luminar Technologies

Luminar Technologies Price Performance

The firm has a 50 day simple moving average of $1.68 and a 200-day simple moving average of $2.40. The stock has a market capitalization of $784.30 million, a price-to-earnings ratio of -1.27 and a beta of 1.54.

Luminar Technologies (NASDAQ:LAZRGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, sell-side analysts forecast that Luminar Technologies, Inc. will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in shares of Luminar Technologies by 11.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 126,606 shares of the company’s stock worth $576,000 after purchasing an additional 12,651 shares in the last quarter. Raymond James & Associates lifted its position in shares of Luminar Technologies by 195.9% during the 3rd quarter. Raymond James & Associates now owns 714,128 shares of the company’s stock worth $3,249,000 after buying an additional 472,778 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Luminar Technologies by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,200 shares of the company’s stock worth $265,000 after buying an additional 8,929 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Luminar Technologies by 69.3% during the 3rd quarter. Mackenzie Financial Corp now owns 24,723 shares of the company’s stock worth $105,000 after buying an additional 10,120 shares during the last quarter. Finally, Olympiad Research LP lifted its position in shares of Luminar Technologies by 138.7% during the 3rd quarter. Olympiad Research LP now owns 42,642 shares of the company’s stock worth $194,000 after buying an additional 24,777 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Company Profile

(Get Free Report)

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.

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