Luminar Technologies (LAZR) Set to Announce Earnings on Thursday

Luminar Technologies (NASDAQ:LAZR – Get Rating) will issue its quarterly earnings data after the market closes on Thursday, May 5th. Analysts expect the company to announce earnings of ($0.16) per share for the quarter. Luminar Technologies has set its FY 2022 guidance at EPS and its Q4 guidance at ($0.12) EPS.Parties that wish to register for the company’s conference call can do so using this link.

Luminar Technologies (NASDAQ:LAZR – Get Rating) last released its quarterly earnings results on Monday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. Luminar Technologies had a negative net margin of 745.01% and a negative return on equity of 44.05%. The firm had revenue of $12.34 million for the quarter, compared to the consensus estimate of $12.07 million. On average, analysts expect Luminar Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Luminar Technologies stock opened at $12.73 on Thursday. Luminar Technologies has a 12-month low of $11.45 and a 12-month high of $26.39. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of -18.19 and a beta of 1.33. The company has a debt-to-equity ratio of 3.08, a current ratio of 21.68 and a quick ratio of 21.41. The firm’s fifty day moving average price is $14.11 and its 200 day moving average price is $15.48.

LAZR has been the topic of several analyst reports. Sumitomo Mitsui Financial Group initiated coverage on shares of Luminar Technologies in a research note on Tuesday, March 29th. They set a “neutral” rating and a $16.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Luminar Technologies in a research report on Tuesday, February 1st. They issued a “neutral” rating and a $14.00 target price for the company. Zacks Investment Research raised shares of Luminar Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday. Credit Suisse Group started coverage on shares of Luminar Technologies in a research report on Thursday, April 14th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Luminar Technologies from $28.00 to $23.00 in a research report on Tuesday, March 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $23.45.

In other Luminar Technologies news, Director Jun Hong Heng sold 188,172 shares of the business’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $14.09, for a total transaction of $2,651,343.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Austin Russell bought 15,000 shares of Luminar Technologies stock in a transaction on Wednesday, February 2nd. The shares were purchased at an average cost of $14.48 per share, with a total value of $217,200.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 90,000 shares of company stock valued at $1,314,750 and have sold 523,062 shares valued at $7,435,589. 43.25% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Oak Harbor Wealth Partners LLC acquired a new stake in shares of Luminar Technologies in the 4th quarter worth approximately $203,000. Cetera Investment Advisers acquired a new stake in shares of Luminar Technologies in the 4th quarter worth approximately $218,000. Advisors Asset Management Inc. acquired a new stake in shares of Luminar Technologies in the 4th quarter worth approximately $236,000. Invesco Ltd. acquired a new stake in shares of Luminar Technologies in the 2nd quarter worth approximately $330,000. Finally, LPL Financial LLC lifted its stake in shares of Luminar Technologies by 37.3% in the 3rd quarter. LPL Financial LLC now owns 56,954 shares of the company’s stock worth $888,000 after acquiring an additional 15,460 shares during the period. 47.36% of the stock is owned by institutional investors.

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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