Luminar Technologies, Inc. (NASDAQ:LAZR) Given Average Rating of “Hold” by Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR) has been given an average rating of “Hold” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $53.86.

Several research analysts recently weighed in on LAZR shares. JPMorgan Chase & Co. restated a “neutral” rating on shares of Luminar Technologies in a research note on Thursday, May 15th. The Goldman Sachs Group lowered their price target on Luminar Technologies from $3.50 to $2.00 and set a “sell” rating for the company in a report on Thursday, April 10th.

Luminar Technologies Stock Performance

LAZR stock opened at $3.10 on Friday. Luminar Technologies has a one year low of $2.52 and a one year high of $27.30. The firm has a market cap of $145.33 million, a price-to-earnings ratio of -0.47 and a beta of 1.94. The firm has a 50-day simple moving average of $3.33 and a two-hundred day simple moving average of $4.73.

Luminar Technologies (NASDAQ:LAZR) last posted its earnings results on Wednesday, May 14th. The company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.75) by $0.25. The firm had revenue of $18.89 million for the quarter, compared to analysts’ expectations of $16.27 million. During the same period in the previous year, the company earned ($0.19) EPS. The company’s revenue was down 10.0% on a year-over-year basis. As a group, equities analysts predict that Luminar Technologies will post -14.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Luminar Technologies

A number of institutional investors have recently bought and sold shares of LAZR. DnB Asset Management AS acquired a new stake in Luminar Technologies during the fourth quarter worth about $91,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Luminar Technologies in the fourth quarter valued at about $1,452,000. Aristides Capital LLC purchased a new stake in shares of Luminar Technologies during the fourth quarter worth about $176,000. MYDA Advisors LLC purchased a new stake in shares of Luminar Technologies during the fourth quarter worth about $480,000. Finally, Nebula Research & Development LLC acquired a new position in shares of Luminar Technologies during the 4th quarter worth about $192,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

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.