Luminar Technologies (NASDAQ:LAZR) Earns Outperform Rating from Analysts at Credit Suisse Group

Equities researchers at Credit Suisse Group started coverage on shares of Luminar Technologies (NASDAQ:LAZRGet Rating) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set an “outperform” rating on the stock.

LAZR has been the subject of several other reports. Sumitomo Mitsui Financial Group started coverage on Luminar Technologies in a research report on Tuesday, March 29th. They issued a “neutral” rating and a $16.00 target price for the company. Jefferies Financial Group initiated coverage on Luminar Technologies in a report on Thursday, January 27th. They issued a “buy” rating and a $20.00 price target for the company. Northland Securities reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Luminar Technologies in a report on Tuesday, December 28th. Citigroup initiated coverage on Luminar Technologies in a research note on Wednesday, December 22nd. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group initiated coverage on Luminar Technologies in a research note on Tuesday, February 1st. They set a “neutral” rating and a $14.00 price target for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $23.55.

LAZR stock opened at $14.65 on Thursday. Luminar Technologies has a 52 week low of $11.45 and a 52 week high of $26.39. The stock has a market capitalization of $5.12 billion, a P/E ratio of -20.93 and a beta of 1.33. The company has a quick ratio of 21.41, a current ratio of 21.68 and a debt-to-equity ratio of 3.08. The firm has a 50-day simple moving average of $14.56 and a 200-day simple moving average of $15.64.

Luminar Technologies (NASDAQ:LAZRGet Rating) last posted its earnings results on Monday, February 28th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. The company had revenue of $12.34 million for the quarter, compared to analyst estimates of $12.07 million. Luminar Technologies had a negative net margin of 745.01% and a negative return on equity of 44.05%. On average, analysts expect that Luminar Technologies will post -0.59 earnings per share for the current year.

In other news, Director Jun Hong Heng sold 132,000 shares of the business’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $15.47, for a total value of $2,042,040.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Austin Russell bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was bought at an average price of $12.86 per share, for a total transaction of $192,900.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 155,000 shares of company stock valued at $2,207,200 and sold 463,105 shares valued at $6,594,392. 43.25% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of LAZR. North Star Investment Management Corp. grew its stake in Luminar Technologies by 303.1% in the fourth quarter. North Star Investment Management Corp. now owns 6,038,116 shares of the company’s stock valued at $102,105,000 after purchasing an additional 4,540,265 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Luminar Technologies by 84.6% during the 3rd quarter. Macquarie Group Ltd. now owns 5,546,897 shares of the company’s stock worth $86,532,000 after purchasing an additional 2,542,628 shares during the last quarter. Norges Bank acquired a new position in shares of Luminar Technologies during the 4th quarter worth about $26,439,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Luminar Technologies by 42.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 3,341,659 shares of the company’s stock worth $56,508,000 after purchasing an additional 997,078 shares during the last quarter. Finally, Vantage Investment Partners LLC lifted its position in shares of Luminar Technologies by 15.4% during the 4th quarter. Vantage Investment Partners LLC now owns 5,424,610 shares of the company’s stock worth $91,730,000 after purchasing an additional 724,816 shares during the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

About Luminar Technologies (Get Rating)

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 Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, 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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