Luminar Technologies (NASDAQ:LAZR – Get Rating) is set to announce its earnings results after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of ($0.17) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.
Luminar Technologies (NASDAQ:LAZR – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The company had revenue of $6.86 million during the quarter, compared to analyst estimates of $9.59 million. Luminar Technologies had a negative net margin of 747.76% and a negative return on equity of 73.24%. During the same period last year, the company earned ($0.09) EPS. On average, analysts expect Luminar Technologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Luminar Technologies Stock Performance
LAZR stock opened at $6.76 on Monday. The company has a market cap of $2.36 billion, a P/E ratio of -9.39 and a beta of 1.70. Luminar Technologies has a twelve month low of $5.61 and a twelve month high of $23.90. The company has a quick ratio of 15.85, a current ratio of 16.06 and a debt-to-equity ratio of 4.92. The business’s fifty day moving average is $7.51 and its 200-day moving average is $11.48.
Wall Street Analysts Forecast Growth
Insider Buying and Selling
In related news, CEO Austin Russell acquired 300,000 shares of Luminar Technologies stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $8.89 per share, with a total value of $2,667,000.00. Following the completion of the transaction, the chief executive officer now directly owns 455,000 shares in the company, valued at approximately $4,044,950. The purchase was disclosed in a document filed with the SEC, which is available through this link. 43.25% of the stock is owned by insiders.
Hedge Funds Weigh In On Luminar Technologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAZR. Walleye Capital LLC bought a new position in Luminar Technologies during the first quarter worth $331,000. Advisors Asset Management Inc. boosted its position in shares of Luminar Technologies by 59.1% in the first quarter. Advisors Asset Management Inc. now owns 22,156 shares of the company’s stock valued at $346,000 after acquiring an additional 8,227 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Luminar Technologies by 17.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,762 shares of the company’s stock valued at $512,000 after acquiring an additional 4,925 shares during the period. Verition Fund Management LLC bought a new stake in shares of Luminar Technologies in the first quarter valued at about $898,000. Finally, Baird Financial Group Inc. boosted its position in shares of Luminar Technologies by 46.1% in the first quarter. Baird Financial Group Inc. now owns 59,162 shares of the company’s stock valued at $925,000 after acquiring an additional 18,676 shares during the period. 58.54% of the stock is 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 Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.
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