Luminar Technologies (NASDAQ:LAZR) Trading 10% Higher

Luminar Technologies, Inc. (NASDAQ:LAZR) shares were up 10% on Friday . The stock traded as high as $1.67 and last traded at $1.65. Approximately 4,321,481 shares were traded during trading, a decline of 44% from the average daily volume of 7,651,222 shares. The stock had previously closed at $1.50.

Analyst Ratings Changes

Several analysts have recently commented on LAZR shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $4.00 price objective (down from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. The Goldman Sachs Group dropped their target price on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a research report on Thursday, February 29th. Bank of America reissued an “underperform” rating and issued a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a research report on Wednesday, April 10th. Finally, Rosenblatt Securities cut their price target on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.39.

Luminar Technologies Stock Up 12.0 %

The business’s 50-day simple moving average is $1.78 and its two-hundred day simple moving average is $2.54. The stock has a market cap of $708.78 million, a P/E ratio of -1.14 and a beta of 1.54.

Luminar Technologies (NASDAQ:LAZR) last posted its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $22.11 million during the quarter, compared to analysts’ expectations of $27.25 million. Analysts anticipate that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Luminar Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vahanian & Associates Financial Planning Inc. bought a new stake in Luminar Technologies during the fourth quarter valued at $41,000. 180 Wealth Advisors LLC grew its holdings in shares of Luminar Technologies by 65.1% during the first quarter. 180 Wealth Advisors LLC now owns 20,702 shares of the company’s stock worth $41,000 after purchasing an additional 8,161 shares in the last quarter. Leo Wealth LLC purchased a new stake in Luminar Technologies in the fourth quarter valued at approximately $43,000. Brave Asset Management Inc. purchased a new position in Luminar Technologies in the 4th quarter worth approximately $49,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Luminar Technologies during the 4th quarter valued at $55,000. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Company Profile

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.