Luminar Technologies (NASDAQ:LAZR) Stock Rating Lowered by Northland Securities

Northland Securities cut shares of Luminar Technologies (NASDAQ:LAZRGet Rating) from an outperform rating to a market perform rating in a research report report published on Thursday, Marketbeat Ratings reports. The firm currently has $10.00 price target on the stock, down from their prior price target of $13.00.

A number of other equities analysts have also issued reports on LAZR. Craig Hallum reduced their target price on shares of Luminar Technologies to $8.00 in a research report on Monday, August 15th. The Goldman Sachs Group cut their price objective on shares of Luminar Technologies from $12.00 to $9.00 and set a neutral rating on the stock in a report on Wednesday, June 1st. JPMorgan Chase & Co. began coverage on shares of Luminar Technologies in a report on Tuesday. They issued an overweight rating and a $30.00 price objective on the stock. Robert W. Baird cut their price objective on shares of Luminar Technologies from $30.00 to $15.00 in a report on Wednesday, August 10th. Finally, Cowen increased their price objective on shares of Luminar Technologies from $12.00 to $14.00 in a report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $18.00.

Luminar Technologies Price Performance

Shares of LAZR stock opened at $7.86 on Thursday. Luminar Technologies has a 1 year low of $5.61 and a 1 year high of $23.90. The firm’s 50 day moving average is $8.36 and its 200-day moving average is $9.99. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -8.93 and a beta of 1.55. The company has a current ratio of 11.60, a quick ratio of 11.44 and a debt-to-equity ratio of 6.89.

Insider Buying and Selling at Luminar Technologies

In other news, CEO Austin Russell bought 25,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average price of $7.21 per share, with a total value of $180,250.00. Following the completion of the purchase, the chief executive officer now owns 780,000 shares of the company’s stock, valued at $5,623,800. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 175,000 shares of company stock valued at $1,630,500. Corporate insiders own 43.25% of the company’s stock.

Institutional Investors Weigh In On Luminar Technologies

Several large investors have recently bought and sold shares of the company. Raymond James & Associates increased its position in shares of Luminar Technologies by 6.5% during the fourth quarter. Raymond James & Associates now owns 30,025 shares of the company’s stock worth $508,000 after acquiring an additional 1,829 shares in the last quarter. Bank of America Corp DE increased its position in shares of Luminar Technologies by 68.2% during the fourth quarter. Bank of America Corp DE now owns 256,624 shares of the company’s stock worth $4,339,000 after acquiring an additional 104,049 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Luminar Technologies by 26.8% during the fourth quarter. Teacher Retirement System of Texas now owns 33,547 shares of the company’s stock worth $567,000 after acquiring an additional 7,089 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Luminar Technologies during the fourth quarter worth $939,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Luminar Technologies by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,060,320 shares of the company’s stock worth $17,931,000 after acquiring an additional 21,753 shares in the last quarter. Institutional investors own 62.57% of the company’s stock.

About Luminar Technologies

(Get Rating)

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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Analyst Recommendations for Luminar Technologies (NASDAQ:LAZR)

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