Luminar Technologies (NASDAQ:LAZR) Stock Rating Reaffirmed by Rosenblatt Securities

by · The Cerbat Gem

Luminar Technologies (NASDAQ:LAZR – Get Free Report)‘s stock had its “neutral” rating reissued by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $2.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 143.90% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Citigroup cut their price target on Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.00 price objective on shares of Luminar Technologies in a research note on Tuesday, September 10th. The Goldman Sachs Group cut their target price on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a research note on Thursday, July 11th. Finally, Westpark Capital reissued a “buy” rating and set a $9.00 price target on shares of Luminar Technologies in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.74.

Read Our Latest Analysis on Luminar Technologies

Luminar Technologies Trading Down 3.0 %

Shares of NASDAQ LAZR opened at $0.82 on Wednesday. The company has a market capitalization of $365.41 million, a price-to-earnings ratio of -0.60 and a beta of 1.60. Luminar Technologies has a twelve month low of $0.73 and a twelve month high of $4.47. The business has a 50 day simple moving average of $1.01 and a 200-day simple moving average of $1.41.

Luminar Technologies (NASDAQ:LAZR – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. During the same quarter in the previous year, the firm earned ($0.37) EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts predict that Luminar Technologies will post -0.97 earnings per share for the current year.

Institutional Trading of Luminar Technologies

Several hedge funds have recently added to or reduced their stakes in LAZR. Optas LLC acquired a new position in shares of Luminar Technologies during the second quarter valued at $26,000. Invst LLC bought a new position in Luminar Technologies in the 2nd quarter valued at about $28,000. Evergreen Wealth Solutions LLC acquired a new position in Luminar Technologies during the 1st quarter valued at about $39,000. 180 Wealth Advisors LLC raised its position in shares of Luminar Technologies by 27.0% during the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock worth $39,000 after buying an additional 5,592 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter worth approximately $42,000. Institutional investors own 30.99% of the company’s stock.

About Luminar Technologies

(Get Free Report)

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.

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