Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $54.64 Consensus PT from Brokerages

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $53.86.

Separately, The Goldman Sachs Group reduced their target price on Luminar Technologies from $3.50 to $2.00 and set a “sell” rating for the company in a research report on Thursday.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of Luminar Technologies by 17.9% during the third quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock valued at $7,896,000 after purchasing an additional 1,331,067 shares during the period. Barclays PLC boosted its holdings in shares of Luminar Technologies by 469.2% during the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock worth $757,000 after purchasing an additional 694,315 shares during the period. XTX Topco Ltd grew its stake in shares of Luminar Technologies by 819.6% in the third quarter. XTX Topco Ltd now owns 649,175 shares of the company’s stock worth $584,000 after purchasing an additional 578,582 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Luminar Technologies by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock valued at $2,691,000 after purchasing an additional 425,335 shares during the period. Finally, Virtu Financial LLC purchased a new position in Luminar Technologies during the 3rd quarter valued at about $316,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

Luminar Technologies Price Performance

Shares of NASDAQ:LAZR opened at $4.42 on Thursday. The company has a market cap of $187.36 million, a price-to-earnings ratio of -0.33 and a beta of 1.86. Luminar Technologies has a one year low of $4.25 and a one year high of $34.80. The firm has a fifty day moving average price of $5.59 and a two-hundred day moving average price of $8.15.

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 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.