Luminar Technologies (NASDAQ:LAZR) Given New $19.00 Price Target at Citigroup

Luminar Technologies (NASDAQ:LAZR – Get Rating) had its target price cut by Citigroup from $20.00 to $19.00 in a research note published on Tuesday, The Fly reports.

LAZR has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Luminar Technologies from $15.00 to $14.00 in a research note on Wednesday, March 1st. Rosenblatt Securities restated a neutral rating and set a $8.00 price target on shares of Luminar Technologies in a research note on Wednesday, March 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Luminar Technologies from $15.00 to $20.00 and gave the company an overweight rating in a research note on Monday, March 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $14.00.

Luminar Technologies Trading Down 7.8 %

NASDAQ LAZR opened at $8.17 on Tuesday. The company has a quick ratio of 7.04, a current ratio of 7.15 and a debt-to-equity ratio of 14.23. The firm has a market cap of $3.02 billion, a PE ratio of -6.54 and a beta of 1.63. The company has a 50 day moving average price of $6.98 and a 200 day moving average price of $7.33. Luminar Technologies has a 52 week low of $3.91 and a 52 week high of $16.62.

Institutional Trading of Luminar Technologies

Large investors have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D boosted its holdings in shares of Luminar Technologies by 13.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 267,257 shares of the company’s stock valued at $1,947,000 after acquiring an additional 32,333 shares during the last quarter. Bridgewater Associates LP boosted its holdings in Luminar Technologies by 22.3% during the second quarter. Bridgewater Associates LP now owns 139,014 shares of the company’s stock worth $824,000 after buying an additional 25,367 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in Luminar Technologies by 6.2% during the third quarter. First Republic Investment Management Inc. now owns 44,030 shares of the company’s stock worth $321,000 after buying an additional 2,554 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Luminar Technologies during the second quarter worth $144,000. Finally, Barclays PLC boosted its holdings in Luminar Technologies by 315.7% during the third quarter. Barclays PLC now owns 4,924,303 shares of the company’s stock worth $35,874,000 after buying an additional 3,739,734 shares in the last quarter. 35.26% of the stock is owned by hedge funds and other institutional investors.

About Luminar Technologies

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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.