Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $40.33 Average PT from Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $40.3333.

Separately, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Luminar Technologies in a research report on Thursday, May 15th.

Hedge Funds Weigh In On Luminar Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in Luminar Technologies during the 1st quarter worth $27,000. Jump Financial LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets bought a new position in shares of Luminar Technologies in the 4th quarter valued at $40,000. GAMMA Investing LLC increased its stake in shares of Luminar Technologies by 1,077.9% in the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company’s stock valued at $51,000 after purchasing an additional 8,666 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Luminar Technologies by 1,194.5% in the 1st quarter. CWM LLC now owns 9,877 shares of the company’s stock valued at $53,000 after purchasing an additional 9,114 shares during the last quarter. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Down 6.5%

NASDAQ:LAZR opened at $2.30 on Wednesday. The stock’s 50 day moving average price is $2.93 and its two-hundred day moving average price is $4.20. The firm has a market capitalization of $107.82 million, a price-to-earnings ratio of -0.82 and a beta of 1.96. Luminar Technologies has a 12-month low of $2.28 and a 12-month high of $18.60.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.30). The business had revenue of $15.63 million during the quarter, compared to analysts’ expectations of $17.27 million. Luminar Technologies’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) earnings per share. Equities research analysts expect that Luminar Technologies will post -14.2 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.