Luminar Technologies, Inc. (NASDAQ:LAZR – Get Free Report)’s share price gapped down prior to trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $3.00 to $2.00. The stock had previously closed at $2.86, but opened at $2.78. The Goldman Sachs Group currently has a sell rating on the stock. Luminar Technologies shares last traded at $2.79, with a volume of 1,365,590 shares.
Separately, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $4.00 price target (down from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Luminar Technologies presently has an average rating of “Hold” and an average target price of $10.14.
Institutional Trading of Luminar Technologies
A number of large investors have recently added to or reduced their stakes in the business. Spotlight Asset Group Inc. bought a new position in shares of Luminar Technologies during the 2nd quarter worth about $28,000. Russell Investments Group Ltd. acquired a new stake in shares of Luminar Technologies during the 2nd quarter worth about $43,000. Samalin Investment Counsel LLC acquired a new stake in Luminar Technologies in the 2nd quarter worth about $69,000. Waverly Advisors LLC bought a new position in Luminar Technologies in the 1st quarter valued at about $65,000. Finally, Caz Investments LP bought a new stake in shares of Luminar Technologies during the 2nd quarter valued at approximately $69,000. 60.82% of the stock is currently owned by institutional investors.
Luminar Technologies Stock Performance
The stock has a market capitalization of $1.10 billion, a P/E ratio of -1.78 and a beta of 1.56. The stock’s fifty day simple moving average is $2.84 and its two-hundred day simple moving average is $4.40.
Luminar Technologies (NASDAQ:LAZR – Get Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The business had revenue of $16.96 million for the quarter, compared to analyst estimates of $19.78 million. As a group, analysts expect that Luminar Technologies, Inc. will post -1.38 earnings per share for the current fiscal year.
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.