Analysts Set Luminar Technologies, Inc. (NASDAQ:LAZR) PT at $53.86

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been assigned an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $53.86.

Separately, The Goldman Sachs Group cut their price objective on shares of Luminar Technologies from $3.50 to $2.00 and set a “sell” rating on the stock in a report on Thursday, April 10th.

Luminar Technologies Trading Up 2.9 %

NASDAQ LAZR opened at $3.85 on Monday. The company has a fifty day simple moving average of $4.84 and a 200 day simple moving average of $7.05. The company has a market cap of $163.20 million, a P/E ratio of -0.29 and a beta of 2.06. Luminar Technologies has a 12-month low of $3.30 and a 12-month high of $34.80.

Institutional Investors Weigh In On Luminar Technologies

Several large investors have recently added to or reduced their stakes in LAZR. Rhumbline Advisers raised its stake in Luminar Technologies by 19.2% in the first quarter. Rhumbline Advisers now owns 36,024 shares of the company’s stock valued at $194,000 after purchasing an additional 5,810 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Luminar Technologies by 22.4% in the first quarter. SBI Securities Co. Ltd. now owns 35,298 shares of the company’s stock worth $190,000 after buying an additional 6,470 shares during the period. BNP Paribas Financial Markets purchased a new stake in Luminar Technologies during the 4th quarter valued at about $40,000. GAMMA Investing LLC grew its position in Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company’s stock worth $51,000 after acquiring an additional 8,666 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Luminar Technologies by 15.1% during the first quarter. Bank of New York Mellon Corp now owns 68,271 shares of the company’s stock valued at $368,000 after purchasing an additional 8,970 shares during the period. Institutional investors own 30.99% of the company’s stock.

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.