Luminar Technologies (NASDAQ:LAZR) Rating Reiterated by JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their overweight rating on shares of Luminar Technologies (NASDAQ:LAZR) in a research report report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a $8.00 price target on the stock, down from their previous price target of $20.00.

Other research analysts have also recently issued research reports about the company. Rosenblatt Securities dropped their price target on Luminar Technologies from $5.00 to $3.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $4.00 price target (down previously from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. Bank of America dropped their price target on Luminar Technologies from $4.00 to $3.50 and set a neutral rating for the company in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group dropped their price target on Luminar Technologies from $2.00 to $1.50 and set a sell rating for the company in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Luminar Technologies currently has a consensus rating of Hold and an average price target of $7.38.

Luminar Technologies Stock Performance

Luminar Technologies stock opened at $1.97 on Tuesday. Luminar Technologies has a one year low of $1.63 and a one year high of $8.32. The business has a fifty day moving average of $2.33 and a two-hundred day moving average of $3.05. The company has a market cap of $831.12 million, a P/E ratio of -1.34 and a beta of 1.51.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Tuesday, February 27th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $22.11 million during the quarter, compared to the consensus estimate of $27.25 million. Sell-side analysts predict that Luminar Technologies will post -1.03 EPS for the current year.

Institutional Trading of Luminar Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. grew its holdings in Luminar Technologies by 1.5% in the 4th quarter. American International Group Inc. now owns 118,820 shares of the company’s stock valued at $588,000 after buying an additional 1,756 shares during the period. PNC Financial Services Group Inc. grew its holdings in Luminar Technologies by 13.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,901 shares of the company’s stock valued at $103,000 after buying an additional 1,799 shares during the period. Lazard Asset Management LLC grew its holdings in Luminar Technologies by 16.3% in the 4th quarter. Lazard Asset Management LLC now owns 14,072 shares of the company’s stock valued at $69,000 after buying an additional 1,968 shares during the period. Amundi grew its holdings in Luminar Technologies by 19.6% in the 4th quarter. Amundi now owns 12,676 shares of the company’s stock valued at $66,000 after buying an additional 2,074 shares during the period. Finally, FMR LLC grew its holdings in Luminar Technologies by 5.5% in the 1st quarter. FMR LLC now owns 40,376 shares of the company’s stock valued at $262,000 after buying an additional 2,102 shares during the period. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Company Profile

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.