Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating)'s stock price gapped down before the market opened on Wednesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $15.00 to $14.00. The stock had previously closed at $8.95, but opened at $8.46. Luminar Technologies shares last traded at $8.53, with a volume of 4,905,287 shares traded.

Several other research firms have also commented on LAZR. The Goldman Sachs Group increased their price objective on shares of Luminar Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Friday, November 4th. Citigroup lowered their price objective on shares of Luminar Technologies from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, December 7th. JPMorgan Chase & Co. lowered their price objective on shares of Luminar Technologies from $30.00 to $16.00 and set an "overweight" rating for the company in a research report on Tuesday, December 20th. Finally, Westpark Capital began coverage on shares of Luminar Technologies in a research note on Tuesday, November 1st. They issued a "buy" rating and a $14.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.77.

Insider Buying and Selling

In related news, Director Jun Hong Heng purchased 9,020 shares of Luminar Technologies stock in a transaction that occurred on Tuesday, December 13th. The shares were bought at an average price of $7.44 per share, with a total value of $67,108.80. Following the purchase, the director now directly owns 46,503 shares of the company's stock, valued at approximately $345,982.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 43.25% of the stock is currently owned by insiders.

Institutional Trading of Luminar Technologies

A number of hedge funds have recently bought and sold shares of the stock. Pictet Asset Management SA lifted its holdings in Luminar Technologies by 15.7% during the second quarter. Pictet Asset Management SA now owns 11,867 shares of the company's stock worth $70,000 after buying an additional 1,607 shares during the period. American International Group Inc. lifted its holdings in shares of Luminar Technologies by 1.5% during the 4th quarter. American International Group Inc. now owns 118,820 shares of the company's stock valued at $588,000 after purchasing an additional 1,756 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Luminar Technologies by 16.3% during the 4th quarter. Lazard Asset Management LLC now owns 14,072 shares of the company's stock valued at $69,000 after purchasing an additional 1,968 shares during the last quarter. Pitcairn Co. lifted its holdings in shares of Luminar Technologies by 7.4% during the 4th quarter. Pitcairn Co. now owns 29,202 shares of the company's stock valued at $145,000 after purchasing an additional 2,015 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Luminar Technologies by 1.2% during the 3rd quarter. New York State Common Retirement Fund now owns 167,436 shares of the company's stock valued at $1,220,000 after purchasing an additional 2,036 shares during the last quarter. Hedge funds and other institutional investors own 35.26% of the company's stock.

Luminar Technologies Stock Performance

The firm has a fifty day moving average price of $6.20 and a 200 day moving average price of $7.36. The company has a debt-to-equity ratio of 14.23, a quick ratio of 9.72 and a current ratio of 9.86. The stock has a market cap of $3.16 billion, a PE ratio of -7.75 and a beta of 1.72.

About Luminar Technologies

(Get Rating)

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 Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.

Read More

• Get a free copy of the StockNews.com research report on Luminar Technologies (LAZR)
• Jack in the Box Pops On Tasty Results, Robust Outlook
• How Low Can Lowe's Companies Go?
• Ambarella: An AI Play In The Making
• Terran Orbital's New $2.4 Billion Contract is a Game Changer
• Wendy's Price Firms After Sizzling Quarter And Juicy Outlook

Receive News & Ratings for Luminar Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luminar Technologies and related companies with MarketBeat.com's FREE daily email newsletter.