Wall Street Zen Upgrades Luminar Technologies (NASDAQ:LAZR) to “Hold”

Luminar Technologies (NASDAQ:LAZR) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Monday.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. restated an “underweight” rating on shares of Luminar Technologies in a research note on Monday, November 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Luminar Technologies in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Luminar Technologies currently has a consensus rating of “Strong Sell” and a consensus price target of $2.00.

Luminar Technologies Price Performance

Shares of Luminar Technologies stock opened at $0.80 on Monday. Luminar Technologies has a 1 year low of $0.80 and a 1 year high of $10.40. The firm has a market cap of $62.03 million, a price-to-earnings ratio of -0.16 and a beta of 2.03. The company has a 50-day moving average of $1.72 and a 200 day moving average of $2.48.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.14. The business had revenue of $18.75 million for the quarter, compared to the consensus estimate of $17.56 million. On average, equities analysts anticipate that Luminar Technologies will post -14.2 EPS for the current year.

Institutional Trading of Luminar Technologies

Several institutional investors have recently added to or reduced their stakes in LAZR. Quarry LP purchased a new position in shares of Luminar Technologies in the first quarter worth $27,000. CWM LLC increased its holdings in Luminar Technologies by 1,194.5% in the 1st quarter. CWM LLC now owns 9,877 shares of the company’s stock worth $53,000 after buying an additional 9,114 shares in the last quarter. Jump Financial LLC purchased a new position in Luminar Technologies in the 2nd quarter worth about $32,000. Headlands Technologies LLC bought a new position in Luminar Technologies during the 1st quarter valued at about $90,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Luminar Technologies during the 1st quarter valued at about $90,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

About Luminar Technologies

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.