Luminar Technologies (NASDAQ:LAZR) Price Target Lowered to $1.00 at Craig Hallum

Luminar Technologies (NASDAQ:LAZR) had its target price trimmed by Craig Hallum from $1.50 to $1.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also recently weighed in on LAZR. Citigroup dropped their target price on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Westpark Capital reissued a “buy” rating and set a $9.00 target price on shares of Luminar Technologies in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.00 target price on shares of Luminar Technologies in a report on Tuesday, September 10th. Rosenblatt Securities reissued a “neutral” rating and set a $2.00 target price on shares of Luminar Technologies in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.34.

Luminar Technologies Price Performance

LAZR traded down $0.03 during trading on Tuesday, hitting $1.00. The company had a trading volume of 6,022,312 shares, compared to its average volume of 15,361,214. The company has a market cap of $493.76 million, a PE ratio of -1.14 and a beta of 1.61. The business has a 50-day moving average of $0.86 and a 200-day moving average of $1.25. Luminar Technologies has a 1-year low of $0.73 and a 1-year high of $3.69.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Monday, November 11th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $15.49 million for the quarter, compared to analyst estimates of $17.70 million. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the company posted ($0.33) earnings per share. Research analysts forecast that Luminar Technologies will post -0.97 earnings per share for the current year.

Institutional Trading of Luminar Technologies

A number of large investors have recently modified their holdings of LAZR. Vanguard Group Inc. grew its position in Luminar Technologies by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock valued at $53,239,000 after buying an additional 1,319,480 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Luminar Technologies by 16.6% in 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 buying an additional 425,335 shares in the last quarter. Boulder Hill Capital Management LP bought a new position in Luminar Technologies in the 1st quarter valued at about $1,375,000. Blair William & Co. IL grew its position in Luminar Technologies by 51.7% in the 2nd quarter. Blair William & Co. IL now owns 605,735 shares of the company’s stock valued at $903,000 after buying an additional 206,512 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Luminar Technologies by 5,037.2% in the 3rd quarter. SG Americas Securities LLC now owns 576,547 shares of the company’s stock valued at $519,000 after buying an additional 565,324 shares in the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

About Luminar Technologies

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.