Luminar Technologies (NASDAQ:LAZR) Shares Gap Down to $1.68

Luminar Technologies, Inc. (NASDAQ:LAZR) shares gapped down before the market opened on Monday . The stock had previously closed at $1.68, but opened at $1.53. Luminar Technologies shares last traded at $1.62, with a volume of 3,106,822 shares.

Wall Street Analyst Weigh In

LAZR has been the subject of several research analyst reports. Rosenblatt Securities cut their price objective 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. Bank of America reissued an “underperform” rating and set a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $4.00 price objective (down previously from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $8.00 price target (down previously from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Finally, The Goldman Sachs Group cut their price target on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.39.

Luminar Technologies Trading Down 1.2 %

The stock has a fifty day moving average price of $1.77 and a 200-day moving average price of $2.51. The firm has a market capitalization of $696.12 million, a price-to-earnings ratio of -1.12 and a beta of 1.54.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $22.11 million during the quarter, compared to analyst estimates of $27.25 million. On average, equities analysts expect that Luminar Technologies, Inc. will post -1.01 EPS for the current year.

Institutional Investors Weigh In On Luminar Technologies

A number of large investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new stake in Luminar Technologies during the 1st quarter worth approximately $214,000. Fore Capital LLC bought a new position in Luminar Technologies in the 1st quarter valued at $59,000. Capstone Investment Advisors LLC bought a new position in Luminar Technologies in the 1st quarter valued at $314,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Luminar Technologies by 0.8% in 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 buying an additional 14,604 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Luminar Technologies by 8.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 139,422 shares of the company’s stock valued at $275,000 after buying an additional 10,394 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors.

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.