Luminar Technologies (NASDAQ:LAZR) Trading Down 4.2%

Luminar Technologies, Inc. (NASDAQ:LAZRGet Free Report)’s share price dropped 4.2% on Thursday . The stock traded as low as $1.48 and last traded at $1.50. Approximately 1,253,279 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 8,437,721 shares. The stock had previously closed at $1.56.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LAZR. Bank of America reaffirmed an “underperform” rating and set a $1.20 price objective (down from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. Citigroup lowered their price objective on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Rosenblatt Securities cut their target price 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. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Finally, The Goldman Sachs Group dropped their price target on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Luminar Technologies has an average rating of “Hold” and a consensus price target of $4.45.

Read Our Latest Analysis on Luminar Technologies

Luminar Technologies Stock Down 1.4 %

The firm’s fifty day moving average is $1.62 and its two-hundred day moving average is $2.24.

Luminar Technologies (NASDAQ:LAZRGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.30). The company had revenue of $20.97 million for the quarter, compared to the consensus estimate of $22.09 million. On average, equities analysts expect that Luminar Technologies, Inc. will post -0.99 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vahanian & Associates Financial Planning Inc. purchased a new stake in Luminar Technologies in the fourth quarter worth $41,000. Leo Wealth LLC bought a new stake in Luminar Technologies during the fourth quarter worth about $43,000. Brave Asset Management Inc. purchased a new stake in Luminar Technologies in the fourth quarter worth about $49,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Luminar Technologies during the fourth quarter valued at approximately $55,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Luminar Technologies during the third quarter valued at approximately $76,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Luminar Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luminar Technologies and related companies with MarketBeat.com's FREE daily email newsletter.