According to Bloomberg Ratings, the fourteen rating agencies presently keeping an eye on Luminar Technologies, Inc. (NASDAQ: LAZR) have given the stock a rating of “Moderate Buy” as the consensus recommendation for the investment. This rating was given because “Moderate Buy” represents the investment that is most likely to generate positive returns. The stock was given a rating of “Hold” by four equity research specialists, while a “buy” rating was given by the remaining five specialists. The brokerage firms that have reported on the company in the previous year and have set a price target for it in the preceding year have set the average price target for the next 12 months at $15.29.
The last reports have only been distributed relatively recently by various brokerages. Goldman Sachs Group gave the company a “neutral” rating and increased their price objective on Luminar Technologies from $7.00 to $8.00 in a research note published on November 4. The note was made public on the company’s quarterly earnings report. Westpark Capital announced in a research note that it would initiate coverage of Luminar Technologies shares on November 1, which was published online and distributed to clients. They recommended investing in the stock, giving it a “buy” rating, and forecasting a price increase to $14.00 over the next month. On September 21, a research note was published by JPMorgan Chase & Co., which signaled the beginning of the firm’s coverage of Luminar Technologies shares. They determined that a price of $30 was an appropriate target for the company and gave it a rating of “overweight.” In a research report that was made public on October 24, Rosenblatt Securities made public their intention to cover the share price of Luminar Technologies. They gave the company a ” neutral rating,” and they decided that the price objective should be eight dollars. Northland Securities decreased their price objective on Luminar Technologies stock from $13.00 to $10.00. They downgraded the company from an “outperform” rating to a “market perform” rating in a research report that was published on Thursday, September 22.
The NASDAQ: LAZR stock started the trading day on Thursday for $7.21. Luminar Technologies hit its all-time low of $5.61 during the 52 weeks, while the company reached its all-time high of $18.16 during the same period. The company’s market capitalization is currently valued at $2.62 billion, its price-to-earnings ratio is currently sitting at -6.80, and its beta is currently at 1.50. During the most recent 50 and 200 trading days, the price of a share of the company’s stock fluctuated between $7.55 and $7.85. There is a ratio of 14.23 debt to equity, 9.72 quick assets to current assets, and a ratio of 9.86 current assets to total assets. All three ratios are presented here.
On the same day, September 20, Chief Executive Officer Austin Russell of Luminar Technologies purchased 25,000 shares of the company’s stock. This piece of news is related to the previous one. The price paid for each share, which was $9.87 on average, brought the total amount spent on the acquisition to 246,750.00 dollars. Following the successful conclusion of the transaction, the chief executive officer now directly owns 1,030,000 shares of the company. The total value of these shares is approximately $10,166,100. You might find a filing that explains the transaction in greater detail on the Securities and Exchange Commission (SEC) website. The company’s employees and other company insiders hold a collective 43.25% of the company’s total shares.
How certain hedge funds and other types of institutional investors currently have their money invested in LAZR was recently subject to modification. During the third quarter of this year, Huntington National Bank provided Luminar Technologies with an investment of $29,000 in the form of capital. During the second quarter, Nisa Investment Advisors LLC provided Luminar Technologies with a financial investment of $48,000. This investment came from Nisa Investment Advisors LLC. MQS Management LLC increased its stake in Luminar Technologies during the second quarter by investing approximately $59,000 to purchase additional company stock shares. Pictet Asset Management SA was successful in acquiring an additional 15.7% stake in Luminar Technologies during the second quarter. After making a new purchase of 1,607 shares during the most recent quarter of the fiscal year, Pictet Asset Management SA now owns a total of 11,867 shares in the company. The current market value of these shares is $70,000.
Last but not least, during the second quarter, Cerity Partners LLC invested approximately $72,000 to acquire a new position in Luminar Technologies. This is by no means the least important item on this list. Institutional investors and hedge funds own the company’s outstanding shares to the collective extent of 62.57%.
North America, Asia Pacific, Europe, and the Middle East are the regions where Luminar Technologies, Inc., an automotive technology company, conducts business. The company supplies sensor technologies and software for passenger cars and commercial trucks in each of these regions. The company can be divided into two primary business divisions: components and autonomous solutions. For original equipment manufacturers in the automotive industry, commercial vehicle industry, Robo-taxi industry, and other allied industries, the Autonomous Solutions business develops, produces, and offers laser imaging, detection, and range sensors, as well as related perception and autonomy software solutions. These offerings are made specifically for the automotive industry. Therefore, these original equipment manufacturers (OEMs) serve the automotive, commercial vehicle, and allied industries.