Luminar Technologies (NASDAQ:LAZR) Price Target Cut to $1.00 by Analysts at Craig Hallum

by · The Markets Daily

Luminar Technologies (NASDAQ:LAZR – Get Free Report) had its price objective decreased by Craig Hallum from $1.50 to $1.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Craig Hallum’s target price suggests a potential downside of 8.26% from the stock’s current price.

Several other research firms have also recently commented on LAZR. JPMorgan Chase & Co. cut their target price on Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Westpark Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a report on Tuesday, August 6th. Citigroup dropped their price objective on Luminar Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.00 target price on shares of Luminar Technologies in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $2.00 target price on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.40.

Check Out Our Latest Analysis on LAZR

Luminar Technologies Price Performance

NASDAQ:LAZR traded up $0.07 during midday trading on Tuesday, reaching $1.09. The stock had a trading volume of 22,320,455 shares, compared to its average volume of 15,325,487. Luminar Technologies has a 1-year low of $0.73 and a 1-year high of $3.69. The firm’s fifty day simple moving average is $0.85 and its 200-day simple moving average is $1.25. The stock has a market capitalization of $538.20 million, a P/E ratio of -0.84 and a beta of 1.61.

Institutional Investors Weigh In On Luminar Technologies

Several institutional investors have recently added to or reduced their stakes in LAZR. Optas LLC bought a new stake in shares of Luminar Technologies in the 2nd quarter worth approximately $26,000. Invst LLC acquired a new position in shares of Luminar Technologies during the second quarter worth $28,000. Evergreen Wealth Solutions LLC acquired a new position in Luminar Technologies in the first quarter valued at approximately $39,000. 180 Wealth Advisors LLC lifted its position in Luminar Technologies by 27.0% in the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock valued at $39,000 after acquiring an additional 5,592 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Luminar Technologies during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

About Luminar Technologies

(Get Free Report)

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.

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