Luminar Technologies, Inc. (NASDAQ:LAZR) Receives Consensus Rating of "Moderate Buy" from Analysts – MarketBeat

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Shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $20.67.
Several equities research analysts recently issued reports on LAZR shares. Citigroup reduced their price objective on shares of Luminar Technologies from $31.00 to $24.00 in a research note on Friday, May 6th. The Goldman Sachs Group reduced their price objective on shares of Luminar Technologies from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, June 1st. Credit Suisse Group assumed coverage on shares of Luminar Technologies in a research note on Thursday, April 14th. They issued an “outperform” rating and a $22.00 price objective for the company. Sumitomo Mitsui Financial Group assumed coverage on shares of Luminar Technologies in a research report on Tuesday, March 29th. They set a “neutral” rating and a $16.00 target price for the company. Finally, Northland Securities cut their target price on shares of Luminar Technologies from $23.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th.

Luminar Technologies Trading Up 4.5 %

Shares of NASDAQ:LAZR opened at $6.03 on Monday. The company has a quick ratio of 15.85, a current ratio of 16.06 and a debt-to-equity ratio of 4.92. Luminar Technologies has a 12-month low of $5.61 and a 12-month high of $23.90. The firm has a fifty day moving average of $8.13 and a two-hundred day moving average of $12.16. The firm has a market capitalization of $2.11 billion, a P/E ratio of -8.37 and a beta of 1.70.
Luminar Technologies (NASDAQ:LAZR – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.03). Luminar Technologies had a negative net margin of 747.76% and a negative return on equity of 73.24%. The business had revenue of $6.86 million during the quarter, compared to analyst estimates of $9.59 million. During the same period in the previous year, the firm posted ($0.09) EPS. On average, equities analysts expect that Luminar Technologies will post -1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Austin Russell acquired 300,000 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average price of $8.89 per share, for a total transaction of $2,667,000.00. Following the acquisition, the chief executive officer now owns 455,000 shares in the company, valued at approximately $4,044,950. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 43.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its stake in Luminar Technologies by 2,609.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,005 shares of the company’s stock valued at $33,000 after acquiring an additional 1,931 shares during the period. Prospera Financial Services Inc bought a new stake in Luminar Technologies in the first quarter valued at about $32,000. Steward Partners Investment Advisory LLC increased its stake in Luminar Technologies by 8,000.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,025 shares of the company’s stock valued at $32,000 after acquiring an additional 2,000 shares during the period. MCF Advisors LLC bought a new stake in Luminar Technologies in the first quarter valued at about $49,000. Finally, Destiny Wealth Partners LLC increased its stake in Luminar Technologies by 29.0% in the first quarter. Destiny Wealth Partners LLC now owns 5,161 shares of the company’s stock valued at $81,000 after acquiring an additional 1,161 shares during the period. Institutional investors own 58.54% of the company’s stock.

Luminar Technologies Company Profile

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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 Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, 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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