Luminar Technologies, Inc. (NASDAQ:LAZR) Receives Consensus Rating of “Buy” from Brokerages

Luminar Technologies, Inc. (NASDAQ:LAZRGet Rating) has been assigned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $24.67.

Several research firms have recently weighed in on LAZR. The Goldman Sachs Group initiated 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 Luminar Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on Luminar Technologies from $28.00 to $23.00 in a report on Tuesday, March 1st. Sumitomo Mitsui Financial Group began coverage on Luminar Technologies in a report on Tuesday, March 29th. They issued a “neutral” rating and a $16.00 price target for the company. Finally, Jefferies Financial Group started coverage on Luminar Technologies in a research note on Thursday, January 27th. They set a “buy” rating and a $20.00 price objective on the stock.

In other Luminar Technologies news, CEO Austin Russell acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The stock was acquired at an average cost of $15.67 per share, with a total value of $235,050.00. Following the acquisition, the chief executive officer now directly owns 155,000 shares of the company’s stock, valued at approximately $2,428,850. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jun Hong Heng sold 59,957 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $14.03, for a total value of $841,196.71. Following the completion of the sale, the director now owns 1,510,067 shares in the company, valued at $21,186,240.01. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 75,000 shares of company stock worth $1,097,550 and sold 523,062 shares worth $7,435,589. Company insiders own 43.25% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Leo Brokerage LLC acquired a new stake in Luminar Technologies in the first quarter worth about $635,000. State of New Jersey Common Pension Fund D raised its position in shares of Luminar Technologies by 24.3% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 182,074 shares of the company’s stock worth $2,846,000 after buying an additional 35,562 shares in the last quarter. Clearwater Capital Advisors LLC lifted its stake in shares of Luminar Technologies by 2.3% in the 1st quarter. Clearwater Capital Advisors LLC now owns 40,859 shares of the company’s stock worth $639,000 after acquiring an additional 900 shares during the period. Cannon Global Investment Management LLC bought a new position in shares of Luminar Technologies in the first quarter valued at approximately $652,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Luminar Technologies by 8,000.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,025 shares of the company’s stock valued at $32,000 after acquiring an additional 2,000 shares during the period. 58.54% of the stock is currently owned by institutional investors.

LAZR stock opened at $12.30 on Wednesday. The stock’s 50 day moving average is $13.99 and its two-hundred day moving average is $15.43. Luminar Technologies has a 52-week low of $11.45 and a 52-week high of $26.39. The company has a market capitalization of $4.30 billion, a PE ratio of -17.57 and a beta of 1.43. The company has a quick ratio of 21.41, a current ratio of 21.68 and a debt-to-equity ratio of 3.08.

Luminar Technologies (NASDAQ:LAZRGet Rating) last released its quarterly earnings results on Monday, February 28th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The business had revenue of $12.34 million during the quarter, compared to the consensus estimate of $12.07 million. Luminar Technologies had a negative net margin of 745.01% and a negative return on equity of 44.05%. As a group, sell-side analysts anticipate that Luminar Technologies will post -0.75 EPS for the current year.

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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Analyst Recommendations for Luminar Technologies (NASDAQ:LAZR)

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