The Goldman Sachs Group Trims Luminar Technologies (NASDAQ:LAZR) Target Price to $7.00 – MarketBeat

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Luminar Technologies (NASDAQ:LAZR – Get Rating) had its price objective reduced by equities research analysts at The Goldman Sachs Group from $9.00 to $7.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 6.54% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Cowen upped their price objective on shares of Luminar Technologies to $14.00 in a report on Monday, August 15th. Robert W. Baird lowered their target price on shares of Luminar Technologies from $30.00 to $15.00 in a report on Wednesday, August 10th. JPMorgan Chase & Co. started coverage on shares of Luminar Technologies in a report on Tuesday, September 20th. They issued an “overweight” rating and a $30.00 target price on the stock. Northland Securities lowered shares of Luminar Technologies from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $13.00 to $10.00 in a report on Thursday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Luminar Technologies from $23.00 to $15.00 in a report on Monday, July 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.85.

Luminar Technologies Trading Down 6.1 %

LAZR traded down $0.43 during trading on Tuesday, reaching $6.57. 135,265 shares of the stock traded hands, compared to its average volume of 7,711,456. The company has a quick ratio of 11.44, a current ratio of 11.60 and a debt-to-equity ratio of 6.89. The stock has a market capitalization of $2.30 billion, a PE ratio of -7.40 and a beta of 1.55. The stock’s 50-day moving average is $8.63 and its 200 day moving average is $9.43. Luminar Technologies has a 12 month low of $5.61 and a 12 month high of $23.90.
Luminar Technologies (NASDAQ:LAZR – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). Luminar Technologies had a negative net margin of 832.16% and a negative return on equity of 134.47%. The firm had revenue of $9.93 million for the quarter, compared to the consensus estimate of $8.85 million. Equities analysts anticipate that Luminar Technologies will post -1.13 earnings per share for the current year.

Insider Activity

In related news, CEO Austin Russell bought 25,000 shares of Luminar Technologies stock in a transaction dated Friday, August 12th. The stock was purchased at an average cost of $10.80 per share, with a total value of $270,000.00. Following the transaction, the chief executive officer now directly owns 930,000 shares of the company’s stock, valued at $10,044,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 175,000 shares of company stock valued at $1,630,500 in the last three months. Company insiders own 43.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its position in shares of Luminar Technologies by 8,000.0% during the 1st 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. Prospera Financial Services Inc purchased a new stake in Luminar Technologies in the 1st quarter worth approximately $32,000. Nisa Investment Advisors LLC purchased a new stake in Luminar Technologies in the 2nd quarter worth approximately $48,000. MCF Advisors LLC purchased a new stake in Luminar Technologies in the 1st quarter worth approximately $49,000. Finally, MQS Management LLC purchased a new stake in Luminar Technologies in the 2nd quarter worth approximately $59,000. 62.57% of the stock is owned by institutional investors.

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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