Luminar Technologies (LAZR) Set to Announce Quarterly Earnings on Monday

Luminar Technologies (NASDAQ:LAZRGet 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:LAZRGet 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

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Luminar Technologies from $23.00 to $15.00 in a research report on Monday, July 18th. The Goldman Sachs Group reduced their price target on shares of Luminar Technologies from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, June 1st. Northland Securities dropped their price objective on shares of Luminar Technologies from $23.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Credit Suisse Group initiated coverage on shares of Luminar Technologies in a research note on Thursday, April 14th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, Citigroup reduced their price objective on Luminar Technologies from $31.00 to $24.00 in a research report on Friday, May 6th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Luminar Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $19.78.

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

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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.

Further Reading

Earnings History for Luminar Technologies (NASDAQ:LAZR)

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