Luminar Technologies, Inc. (NASDAQ:LAZR – Get Free Report) insider Alan Prescott sold 42,171 shares of Luminar Technologies stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $5.57, for a total transaction of $234,892.47. Following the completion of the sale, the insider now directly owns 1,467,282 shares of the company’s stock, valued at approximately $8,172,760.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Luminar Technologies Stock Performance
LAZR opened at $5.33 on Monday. Luminar Technologies, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $10.55. The firm’s fifty day moving average is $6.54 and its 200 day moving average is $6.72. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -3.55 and a beta of 1.57.
Luminar Technologies (NASDAQ:LAZR – Get Free Report) last released its earnings results on Tuesday, August 8th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.04). Luminar Technologies had a negative net margin of 1,008.66% and a negative return on equity of 8,821.02%. The firm had revenue of $16.20 million for the quarter, compared to analysts’ expectations of $15.93 million. On average, equities research analysts predict that Luminar Technologies, Inc. will post -1.32 earnings per share for the current year.
Institutional Trading of Luminar Technologies
Wall Street Analyst Weigh In
A number of equities research analysts have commented on LAZR shares. Citigroup cut their target price on shares of Luminar Technologies from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 16th. Rosenblatt Securities reiterated a “neutral” rating and set a $6.00 price target on shares of Luminar Technologies in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.94.
About Luminar Technologies
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.
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