Rosenblatt Securities Reaffirms Neutral Rating for Luminar Technologies (NASDAQ:LAZR)

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “neutral” rating restated by equities researchers at Rosenblatt Securities in a research report issued on Wednesday, Benzinga reports. They presently have a $2.00 price objective on the stock. Rosenblatt Securities’ price objective points to a potential upside of 142.37% from the company’s current price.

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

Luminar Technologies Stock Up 0.6 %

Luminar Technologies stock traded up $0.01 during mid-day trading on Wednesday, reaching $0.83. 4,006,092 shares of the company’s stock were exchanged, compared to its average volume of 11,656,377. The business’s fifty day simple moving average is $1.04 and its 200 day simple moving average is $1.42. Luminar Technologies has a one year low of $0.73 and a one year high of $4.47. The firm has a market capitalization of $367.73 million, a PE ratio of -0.60 and a beta of 1.60.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates 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. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.37) earnings per share. On average, sell-side analysts forecast that Luminar Technologies will post -0.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LAZR. Vanguard Group Inc. increased its position in shares of Luminar Technologies by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock valued at $86,627,000 after buying an additional 1,671,708 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Luminar Technologies in the 1st quarter worth approximately $214,000. Leo Wealth LLC bought a new position in Luminar Technologies in the 4th quarter valued at $43,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Luminar Technologies by 0.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock valued at $3,675,000 after purchasing an additional 14,604 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Luminar Technologies by 30.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock worth $294,000 after purchasing an additional 34,566 shares during the period. 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.