Luminar Technologies Inc. (NASDAQ:LAZR) shares traded -1.64% lower at $5.98 on Wall Street last session.
In accordance with the data, 12 analysts cover Luminar Technologies Inc. (NASDAQ:LAZR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $4.50, we find $11.00. Given the previous closing price of $6.08, this indicates a potential upside of 80.92 percent. LAZR stock price is now -10.21% away from the 50-day moving average and -11.24% away from the 200-day moving average. The market capitalization of the company currently stands at $2.31B.
It has been rated a hold by 3 analysts and a buy by 7. Brokers who have rated the stock have averaged $12.04 as their price target over the next twelve months.
With the price target reduced from $12 to $10, TD Cowen maintained Outperform rating for Luminar Technologies Inc. (NASDAQ: LAZR).
In other news, Prescott Alan, Chief Legal Officer sold 37,433 shares of the company’s stock on Jun 05. The stock was sold for $269,866 at an average price of $7.21. Upon completion of the transaction, the Chief Legal Officer now directly owns 1,509,453 shares in the company, valued at $9.03 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05, Chief Financial Officer Fennimore Thomas sold 16,543 shares of the business’s stock. A total of $119,263 was realized by selling the stock at an average price of $7.21. This leaves the insider owning 711,004 shares of the company worth $4.25 million. Insiders disposed of 232,530 shares of company stock worth roughly $1.39 million over the past 1 year. A total of 1.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LAZR stock. A new stake in Luminar Technologies Inc. shares was purchased by KULA INVESTMENTS, LLC during the first quarter worth $1,069,000. BAADER BANK AKTIENGESELLSCHAFT invested $658,000 in shares of LAZR during the first quarter. In the first quarter, SG AMERICAS SECURITIES, LLC acquired a new stake in Luminar Technologies Inc. valued at approximately $617,000. SEQUOIA FINANCIAL ADVISORS, LLC acquired a new stake in LAZR for approximately $615,000. CRESSET ASSET MANAGEMENT, LLC purchased a new stake in LAZR valued at around $577,000 in the second quarter. In total, there are 349 active investors with 56.40% ownership of the company’s stock.
During the past 12 months, Luminar Technologies Inc. has had a low of $3.91 and a high of $10.55. The fifty day moving average price for LAZR is $6.64 and a two-hundred day moving average price translates $6.73 for the stock.
The latest earnings results from Luminar Technologies Inc. (NASDAQ: LAZR) was released for Jun, 2023. According to the Auto Parts Company, earnings per share came in at -$0.21, beating analysts’ expectations of -$0.23 by 0.02. This compares to -$0.27 EPS in the same period last year. The company reported revenue of $16.2 million for the quarter, compared to $9.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 63.08 percent. For the current quarter, analysts expect LAZR to generate $19.55M in revenue.
Luminar Technologies Inc.(LAZR) 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. The Advanced Technologies and Services segment develops application-specific integrated circuits, pixel-based sensors, and advanced lasers. This segment also designs, tests, and provides consulting services for non-standard integrated circuits for use in automobile and aeronautics sector, as well as government spending in military and defense activities. The company was founded in 2012 and is headquartered in Orlando, Florida.
