Craig Hallum Has Lowered Expectations for Luminar Technologies (NASDAQ:LAZR) Stock Price

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

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

Luminar Technologies Stock Up 6.9 %

NASDAQ:LAZR traded up $0.07 during trading hours on Tuesday, hitting $1.09. 22,320,455 shares of the stock traded hands, 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 company has a market cap of $538.20 million, a price-to-earnings ratio of -0.84 and a beta of 1.61. The stock has a 50 day moving average price of $0.85 and a 200 day moving average price of $1.25.

Institutional Trading of Luminar Technologies

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in Luminar Technologies by 16.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock worth $2,691,000 after purchasing an additional 425,335 shares during the last quarter. Tyler Stone Wealth Management raised its holdings in Luminar Technologies by 70.5% in the 3rd quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after acquiring an additional 15,300 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Luminar Technologies by 30.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company’s stock valued at $49,000 after purchasing an additional 12,685 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Luminar Technologies by 6.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 376,155 shares of the company’s stock valued at $342,000 after buying an additional 22,400 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Luminar Technologies in the third quarter valued at about $141,000. Institutional investors and hedge funds own 30.99% of the company’s stock.

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.