Luminar Technologies’ (LAZR) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

Luminar Technologies (NASDAQ:LAZR)‘s stock had its “underweight” rating reissued by analysts at JPMorgan Chase & Co. in a research note issued on Monday,Benzinga reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Luminar Technologies in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Luminar Technologies currently has a consensus rating of “Strong Sell” and a consensus price target of $8.50.

Luminar Technologies Price Performance

LAZR opened at $1.16 on Monday. The business has a fifty day simple moving average of $1.97 and a 200 day simple moving average of $2.81. The company has a market capitalization of $79.76 million, a PE ratio of -0.41 and a beta of 2.03. Luminar Technologies has a 1 year low of $1.08 and a 1 year high of $18.60.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.30). The company had revenue of $15.63 million during the quarter, compared to analyst estimates of $17.27 million. During the same period in the prior year, the company posted ($0.18) EPS. The firm’s revenue was down 5.0% compared to the same quarter last year. Luminar Technologies has set its FY 2025 guidance at EPS. Equities analysts anticipate that Luminar Technologies will post -14.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Luminar Technologies during the third quarter valued at approximately $40,000. SG Americas Securities LLC boosted its stake in Luminar Technologies by 38.8% during the third quarter. SG Americas Securities LLC now owns 36,635 shares of the company’s stock valued at $70,000 after buying an additional 10,247 shares during the period. MASO CAPITAL PARTNERS Ltd boosted its stake in Luminar Technologies by 100.0% during the second quarter. MASO CAPITAL PARTNERS Ltd now owns 100,000 shares of the company’s stock valued at $287,000 after buying an additional 50,000 shares during the period. Engineers Gate Manager LP lifted its stake in Luminar Technologies by 71.0% during the second quarter. Engineers Gate Manager LP now owns 33,185 shares of the company’s stock worth $95,000 after purchasing an additional 13,778 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Luminar Technologies by 49.1% during the second quarter. Raymond James Financial Inc. now owns 23,612 shares of the company’s stock worth $68,000 after purchasing an additional 7,773 shares during the last quarter. Institutional investors 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.