Luminar Technologies, Inc. (NASDAQ:LAZR) Expected to Post Quarterly Sales of $10.17 Million

Brokerages expect that Luminar Technologies, Inc. (NASDAQ:LAZRGet Rating) will report sales of $10.17 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Luminar Technologies’ earnings, with the lowest sales estimate coming in at $8.50 million and the highest estimate coming in at $12.00 million. Luminar Technologies posted sales of $6.31 million during the same quarter last year, which would indicate a positive year over year growth rate of 61.2%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Luminar Technologies will report full-year sales of $41.43 million for the current fiscal year, with estimates ranging from $40.00 million to $43.88 million. For the next year, analysts forecast that the firm will post sales of $128.46 million, with estimates ranging from $120.00 million to $133.37 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Luminar Technologies.

Luminar Technologies (NASDAQ:LAZRGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). Luminar Technologies had a negative return on equity of 73.24% and a negative net margin of 747.76%. During the same quarter in the previous year, the firm earned ($0.09) earnings per share.

LAZR has been the topic of several recent research reports. Citigroup reduced their price objective on Luminar Technologies from $31.00 to $24.00 in a research report on Friday, May 6th. Credit Suisse Group started coverage on Luminar Technologies in a report on Thursday, April 14th. They issued an “outperform” rating and a $22.00 price objective on the stock. 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 objective on the stock. Jefferies Financial Group began coverage on Luminar Technologies in a research note on Thursday, January 27th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Zacks Investment Research upgraded Luminar Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $23.50.

In other news, Director Jun Hong Heng sold 132,000 shares of Luminar Technologies stock in a transaction on Monday, February 14th. The shares were sold at an average price of $15.47, for a total transaction of $2,042,040.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Austin Russell bought 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The stock was purchased at an average price of $16.14 per share, for a total transaction of $242,100.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 375,000 shares of company stock valued at $3,764,550 and have sold 523,062 shares valued at $7,435,589. Company insiders own 43.25% of the company’s stock.

Large investors have recently bought and sold shares of the company. Moors & Cabot Inc. bought a new stake in Luminar Technologies in the 3rd quarter worth about $26,000. City State Bank purchased a new stake in shares of Luminar Technologies during the 4th quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC lifted its stake in Luminar Technologies by 8,000.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,025 shares of the company’s stock worth $32,000 after purchasing an additional 2,000 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in Luminar Technologies in the 1st quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. lifted its stake in Luminar Technologies by 2,609.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,005 shares of the company’s stock worth $33,000 after purchasing an additional 1,931 shares in the last quarter. 58.54% of the stock is owned by institutional investors.

Shares of LAZR stock opened at $10.36 on Friday. The company has a debt-to-equity ratio of 4.92, a current ratio of 16.06 and a quick ratio of 21.41. The firm has a market capitalization of $3.62 billion, a PE ratio of -14.39 and a beta of 1.43. Luminar Technologies has a 1-year low of $8.00 and a 1-year high of $26.39. The business’s fifty day moving average price is $13.33 and its 200 day moving average price is $15.09.

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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