Shares of Luminar Technologies, Inc. (NASDAQ: LAZR – Get Rating) have earned a consensus rating of “Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $ 22.10.
LAZR has been the subject of several recent research reports. Sumitomo Mitsui Financial Group initiated coverage on Luminar Technologies in a research note on Tuesday, March 29th. They issued a “neutral” rating and a $ 16.00 price target for the company. Citigroup reduced their price target on Luminar Technologies from $ 31.00 to $ 24.00 in a research note on Friday, May 6th. Zacks Investment Research downgraded Luminar Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Credit Suisse Group assumed coverage on Luminar Technologies in a research note on Thursday, April 14th. They issued an “outperform” rating and a $ 22.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on Luminar Technologies in a research report on Tuesday, February 1st. They set a “neutral” rating and a $ 14.00 target price for the company.
LAZR stock opened at $ 9.90 on Friday. The company has a current ratio of 16.06, a quick ratio of 15.85 and a debt-to-equity ratio of 4.92. The firm has a market capitalization of $ 3.46 billion, a PE ratio of -13.75 and a beta of 1.43. Luminar Technologies has a 1-year low of $ 8.00 and a 1-year high of $ 26.39. The business’s 50 day simple moving average is $ 12.60 and its 200 day simple moving average is $ 14.54.
Luminar Technologies (NASDAQ: LAZR – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($ 0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($ 0.20) by ($ 0.03). The business had revenue of $ 6.86 million for the quarter, compared to analyst estimates of $ 9.59 million. Luminar Technologies had a negative return on equity of 73.24% and a negative net margin of 747.76%. During the same period in the previous year, the firm posted ($ 0.09) earnings per share. As a group, sell-side analysts predict that Luminar Technologies will post -1 EPS for the current fiscal year.
In other Luminar Technologies news, Director Jun Hong Heng sold 59,957 shares of the company’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $ 14.03, for a total value of $ 841,196.71. Following the completion of the transaction, the director now owns 1,510,067 shares of the company’s stock, valued at approximately $ 21,186,240.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Austin Russell bought 15,000 shares of the stock in a transaction on Tuesday, March 8th. The stock was purchased at an average cost of $ 12.86 per share, with a total value of $ 192,900.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 345,000 shares of company stock valued at $ 3,315,600 and have sold 391,062 shares valued at $ 5,393,549. 43.25% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of LAZR. North Star Investment Management Corp. increased its stake in shares of Luminar Technologies by 303.1% in the fourth quarter. North Star Investment Management Corp. now owns 6,038,116 shares of the company’s stock valued at $ 102,105,000 after buying an additional 4,540,265 shares during the period. Macquarie Group Ltd. increased its stake in shares of Luminar Technologies by 84.6% in the third quarter. Macquarie Group Ltd. now owns 5,546,897 shares of the company’s stock valued at $ 86,532,000 after buying an additional 2,542,628 shares during the period. Bank of Montreal Can increased its stake in shares of Luminar Technologies by 4,481.5% in the first quarter. Bank of Montreal Can now owns 2,488,690 shares of the company’s stock valued at $ 38,600,000 after buying an additional 2,434,370 shares during the period. Norges Bank acquired a new stake in shares of Luminar Technologies in the fourth quarter valued at about $ 26,439,000. Finally, CQS US LLC acquired a new stake in shares of Luminar Technologies in the first quarter valued at about $ 16,180,000. 58.54% of the stock is owned by institutional investors and hedge funds.
Luminar Technologies Company Profile (Get Rating)
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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