$10.17 Million in Sales Expected for Luminar Technologies, Inc. (NASDAQ:LAZR) This Quarter

Equities analysts expect Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) to announce $10.17 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Luminar Technologies’ earnings. The lowest sales estimate is $8.50 million and the highest is $12.00 million. Luminar Technologies reported sales of $6.31 million in the same quarter last year, which indicates a positive year-over-year growth rate of 61.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Luminar Technologies will report full year sales of $41.43 million for the current fiscal year, with estimates ranging from $40.00 million to $43.88 million. For the next year, analysts forecast that the company will report sales of $128.46 million, with estimates ranging from $120.00 million to $133.37 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Luminar Technologies.

Luminar Technologies (NASDAQ:LAZR – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). Luminar Technologies had a negative net margin of 747.76% and a negative return on equity of 73.24%. During the same quarter in the prior year, the company earned ($0.09) EPS.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Luminar Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday. Sumitomo Mitsui Financial Group initiated coverage on shares of Luminar Technologies in a research note on Tuesday, March 29th. They issued a “neutral” rating and a $16.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Luminar Technologies from $28.00 to $23.00 in a research note on Tuesday, March 1st. Northland Securities cut their target price on shares of Luminar Technologies from $23.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group initiated coverage on shares of Luminar Technologies in a research note on Thursday, January 27th. They issued a “buy” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $21.42.

NASDAQ:LAZR traded up $0.17 during trading hours on Friday, reaching $10.07. 4,503,300 shares of the company were exchanged, compared to its average volume of 5,645,376. The company has a debt-to-equity ratio of 4.92, a current ratio of 16.06 and a quick ratio of 15.85. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -13.62 and a beta of 1.43. Luminar Technologies has a 52-week low of $8.00 and a 52-week high of $26.39. The stock has a 50 day simple moving average of $13.15 and a 200 day simple moving average of $14.96.

In related news, CEO Austin Russell acquired 15,000 shares of the firm’s stock in a transaction on Friday, February 25th. The stock was bought at an average cost of $13.79 per share, with a total value of $206,850.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jun Hong Heng sold 142,933 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $13.30, for a total transaction of $1,901,008.90. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 360,000 shares of company stock worth $3,522,450 and have sold 391,062 shares worth $5,393,549. Insiders own 43.25% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of LAZR. Moors & Cabot Inc. acquired a new position in shares of Luminar Technologies in the 3rd quarter valued at about $26,000. City State Bank acquired a new position in shares of Luminar Technologies in the 4th quarter valued at about $31,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Luminar Technologies by 8,000.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,025 shares of the company’s stock valued at $32,000 after buying an additional 2,000 shares during the period. Prospera Financial Services Inc acquired a new position in shares of Luminar Technologies in the 1st quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. lifted its position in Luminar Technologies by 2,609.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,005 shares of the company’s stock valued at $33,000 after purchasing an additional 1,931 shares during the last quarter. 58.54% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Company Profile (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.

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