Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $50.06 Average Price Target from Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR) has been given an average rating of “Hold” by the eight research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $50.06.

LAZR has been the subject of a number of research reports. Craig Hallum decreased their price objective on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. The Goldman Sachs Group lowered their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a report on Thursday, November 14th.

Luminar Technologies Stock Down 7.7 %

Luminar Technologies stock opened at $5.31 on Tuesday. The company has a 50 day moving average of $6.71 and a 200-day moving average of $11.92. Luminar Technologies has a twelve month low of $4.93 and a twelve month high of $45.68. The stock has a market capitalization of $176.89 million, a PE ratio of -0.40 and a beta of 1.60.

Luminar Technologies (NASDAQ:LAZR) last announced its earnings results on Monday, November 11th. The company reported ($2.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.30) by $0.90. The company had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. Luminar Technologies’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the company posted ($4.95) earnings per share. Equities analysts anticipate that Luminar Technologies will post -14.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Luminar Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of LAZR. PEAK6 Investments LLC bought a new stake in Luminar Technologies in the third quarter valued at approximately $25,000. Invst LLC bought a new stake in Luminar Technologies in the 2nd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Luminar Technologies during the 3rd quarter valued at $31,000. Tyler Stone Wealth Management increased its holdings in shares of Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after purchasing an additional 15,300 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Luminar Technologies in the third quarter valued at about $40,000. Institutional investors own 30.99% of the company’s stock.

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.