Luminar Technologies, Inc. operates as a vehicle sensor and software company for passenger cars and commercial trucks. The company operates in two segments, Autonomy Solutions and Other Component Sales. The Autonomy Solutions segment designs, manufactures, and sells lidar sensors, and related perception and autonomy software solutions for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and other related industries. The Other Component Sales segment engages in the designing, testing, and consulting of non-standard integrated circuits for government agencies and defense contractors. The company was founded in 2012 and is headquartered in Orlando, Florida.
IPO Year: 2019
Exchange: NASDAQ
Website: luminartech.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/10/2024 | $1.00 | Hold | Deutsche Bank |
| 4/10/2024 | $3.50 → $1.20 | Neutral → Underperform | BofA Securities |
| 1/17/2024 | $11.00 → $4.00 | Buy → Hold | Deutsche Bank |
| 9/26/2023 | $5.00 | Neutral | BofA Securities |
| 5/10/2023 | $12.00 → $10.00 | Outperform | TD Cowen |
| 4/25/2023 | $12.00 | Buy | Jefferies |
| 3/22/2023 | $5.00 | Neutral → Sell | Goldman |
| 10/25/2022 | $8.00 | Neutral | Rosenblatt |
| 9/28/2022 | Hold | Berenberg | |
| 9/22/2022 | $13.00 → $10.00 | Outperform → Market Perform | Northland Capital |
Luminar (NASDAQ:LAZR), a leading global automotive technology company, today announced it will provide its quarterly business update for the third quarter of 2024 following the close of the market on Monday, November 11th, 2024. Separately, the company would like to remind investors that Luminar will be holding a virtual Special Meeting of Stockholders on October 30th, 2024 at 11:00 a.m. EDT (8:00 a.m. PDT) to vote on our proposal to carry out a reverse stock split. While NASDAQ listing requirements allow for a 6-month period for the stock to return to above $1 levels (starting from receipt of the discontinuation notice), the company expects that executing the reverse split now will allow
Restructures $422 Million of Debt with Convertible Exchange & Raises $100 Million of New Capital Today, Luminar (NASDAQ:LAZR), a leading global automotive technology company, provided its quarterly business update and financial results for the second quarter of 2024. Luminar announced today that it has entered into private, separately negotiated transactions to reduce its debt, extend maturities, and receive $100 million in new capital to bolster its balance sheet. This directly addresses the company's capital structure overhang, captures a discount on existing notes, and helps provide the financial runway to execute the company's business plan. Key highlights of the transactions incl
Luminar (NASDAQ:LAZR), a leading global automotive technology company, today announced it will provide its quarterly business update for the second quarter of 2024 following the close of the market on Tuesday, August 6, 2024. At 4:00 p.m. EDT (1:00 p.m. PDT) the company will publish materials detailing its quarterly business update and financials, as well as other relevant commentary. At 5:00 p.m. EDT (2:00 p.m. PDT) the company will host a webcast consisting of a live Q&A session. Institutional shareholders can submit questions by emailing [email protected]. Starting on Monday, July 29 at 4:00 p.m. EDT (1:00 p.m. PDT), verified retail shareholders can submit and upvote question
Full Stack Software Development Kits to Ship to Top Automakers Beginning in Q3 Today Luminar (NASDAQ:LAZR), a leading global automotive technology company, announced it is launching Sentinel1, its full-stack software suite, following five years of breakthrough developments in Software and AI systems. The Sentinel solution enables automakers to accelerate development of advanced safety and autonomous functionality on vehicles, and includes Proactive Safety, Perception, 3D Mapping and Localization, Simulation, and Dynamic LiDAR features. The first shipments occurred this week, and are planned to be delivered to top automakers in the third quarter of this year. This press release features m
Today, Luminar (NASDAQ:LAZR), a leading global automotive technology company, provided its quarterly business update and financial results for the first quarter of 2024. These results and related commentary were published in a Shareholder Letter that was issued via an 8-K SEC filing and published on its Investor Relations website at https://investors.luminartech.com. At 5:00 p.m. EDT (2:00 p.m. PDT) today, Luminar Founder & CEO Austin Russell and CFO Tom Fennimore will host a webcast consisting of a live Q&A session on the Luminar IR site at https://www.luminartech.com/quarterlyreview. Institutional shareholders can submit questions to be addressed on the call by emailing investors@lumi
Launches Next-Gen LiDAR; Swiss Re Releases LiDAR Safety Results; New Partnership with Applied Intuition News Summary Luminar achieves start of production (SOP) for Volvo Cars; Marks first time industry transitioning from R&D to standard on global production vehicles; Kicks off conversion of nearly $4 Billion Order Book to revenue Unveils Luminar Halo, the company's next-generation LiDAR technology platform; Step-function improvement in performance, integration, and cost; Built for mass adoption by both premium and mainstream automakers Swiss Re releases results of industry-first efficacy test of Luminar LiDAR for vehicle safety: nearly 27% reduction in accidents, nearly 40% reduc
Applied Intuition, a Silicon Valley-based vehicle software supplier, and Luminar (NASDAQ:LAZR), a leading global automotive technology company, are partnering to accelerate the development and adoption of advanced driver-assistance systems (ADAS) and automated driving (AD) systems for automakers. In a first step of the partnership, the companies will jointly provide the first validated sensor models of Luminar lidars, enabling automakers to test and validate ADAS and AD perception systems using Applied Intuition Sensor Sim, a physics-based sensor simulator, with integrated sensor models of Luminar lidars. This press release features multimedia. View the full release here: https://www.busin
Luminar (NASDAQ:LAZR), a leading global automotive technology company, today announced it will report financials for the first quarter of 2024 following the close of the market on Tuesday, May 7, 2024. This will follow Luminar Day: A New Era on Tuesday, April 23, 2024, which will highlight Luminar's start of production (SOP) for Volvo Cars, its next-generation LiDAR platform, among other business updates. At 4:00 p.m. EDT (1:00 p.m. PDT), the company will publish a comprehensive shareholder letter detailing quarterly results, business developments, and other relevant commentary. At 5:00 p.m. EDT (2:00 p.m. PDT), the company will host a webcast consisting of a live Q&A session. Instituti
Luminar (NASDAQ:LAZR), a leading global automotive technology company, today announced two new key executive hires to help guide the company through its next phase of rapid growth. Dr. David Foster joins Luminar as the Executive Vice President of Engineering. Dr. Foster's extensive experience includes executive and leadership positions at Lyft, Apple, Microsoft, Amazon, and other innovative technology companies. Throughout his career, Dr. Foster has successfully launched groundbreaking products from concept to high volume production – including such iconic devices as the iMac, MacBook, MacPro, Kindle, and Kindle Fire. Dr. Foster holds a BA, MA, and Doctorate in Philosophy in Electrical E
Seasoned financial executive to bring decades of experience in the energy, tech and transportation sectors to leading global energy storage company Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or the "Company"), a leader in sustainable grid-scale energy storage solutions, announced today the appointment of Michael Beer as Chief Financial Officer. Beer will replace Jan Kees van Gaalen, who has served in the role since November 2022 and plans to retire. The appointment is effective April 15, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240404851008/en/Energy Vault Appoints Michael Beer as Chief Financial Offic
Deutsche Bank resumed coverage of Luminar Technologies with a rating of Hold and set a new price target of $1.00
BofA Securities downgraded Luminar Technologies from Neutral to Underperform and set a new price target of $1.20 from $3.50 previously
Deutsche Bank downgraded Luminar Technologies from Buy to Hold and set a new price target of $4.00 from $11.00 previously
BofA Securities resumed coverage of Luminar Technologies with a rating of Neutral and set a new price target of $5.00
TD Cowen reiterated coverage of Luminar Technologies with a rating of Outperform and set a new price target of $10.00 from $12.00 previously
Jefferies initiated coverage of Luminar Technologies with a rating of Buy and set a new price target of $12.00
Goldman downgraded Luminar Technologies from Neutral to Sell and set a new price target of $5.00
Rosenblatt initiated coverage of Luminar Technologies with a rating of Neutral and set a new price target of $8.00
Berenberg resumed coverage of Luminar Technologies with a rating of Hold
Northland Capital downgraded Luminar Technologies from Outperform to Market Perform and set a new price target of $10.00 from $13.00 previously
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Luminar successfully passes series production 'Run at Rate' test leading up to Volvo EX90 launch Luminar Technologies (NASDAQ:LAZR), a leading global automotive company, today announced a significant achievement towards enabling the world's safest and smartest vehicles. The company successfully passed its first major Run at Rate production test for Volvo Cars at its highly automated, high volume manufacturing facility in Monterrey, Mexico. The successful completion of Run at Rate is a key requirement for automakers in advance of start of production (SOP), and the precursor to the launch of the Volvo EX90 featuring Luminar as standard on every vehicle. The Run at Rate served as a rigorou
Luminar (NASDAQ:LAZR), a leading global automotive technology company, today announced two new key executive hires to help guide the company through its next phase of rapid growth. Dr. David Foster joins Luminar as the Executive Vice President of Engineering. Dr. Foster's extensive experience includes executive and leadership positions at Lyft, Apple, Microsoft, Amazon, and other innovative technology companies. Throughout his career, Dr. Foster has successfully launched groundbreaking products from concept to high volume production – including such iconic devices as the iMac, MacBook, MacPro, Kindle, and Kindle Fire. Dr. Foster holds a BA, MA, and Doctorate in Philosophy in Electrical E
Seasoned financial executive to bring decades of experience in the energy, tech and transportation sectors to leading global energy storage company Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or the "Company"), a leader in sustainable grid-scale energy storage solutions, announced today the appointment of Michael Beer as Chief Financial Officer. Beer will replace Jan Kees van Gaalen, who has served in the role since November 2022 and plans to retire. The appointment is effective April 15, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240404851008/en/Energy Vault Appoints Michael Beer as Chief Financial Offic
Luminar Technologies's (NYSE:LAZR) short percent of float has fallen 4.67% since its last report. The company recently reported that it has 81.88 million shares sold short, which is 24.49% of all regular shares that are available for trading. Based on its trading volume, it would take traders 10.39 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Shor
Shares of ASLAN Pharmaceuticals Limited (NASDAQ:ASLN) fell sharply during Wednesday's session after the company announced that its Singapore-incorporated, sole operating subsidiary has filed for voluntary liquidation. ASLAN Pharmaceuticals shares dipped 38.7% to $0.68 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers Aptevo Therapeutics Inc. (NASDAQ:APVO) shares climbed 84% to $0.6073 after surging around 10% on Tuesday. Aptevo Therapeutics recently announced closing of $2.75 million offering. Shimmick Corporation (NASDAQ:SHIM) shares climbed 49% to $3.0173 after the company received a $27.6 million subcontract for the Sunol Valley Water Trea
Goldman Sachs analyst Mark Delaney maintains Luminar Technologies (NASDAQ:LAZR) with a Sell and lowers the price target from $1.5 to $1.
Luminar Technologies Inc (NASDAQ:LAZR) shares are trading higher Wednesday after the company launched its Sentinel software for automakers. What Happened: Following five years of breakthrough developments in software and AI systems, Luminar has announced that it’s launching its full-stack software suite Sentinel. Sentinel is packed with features including proactive safety, perception, 3D mapping and localization, simulation and dynamic LiDAR features. The software suite enables automakers to accelerate development of advanced safety and autonomous functionality on vehicles. “People know Luminar for pioneering LiDAR systems for global production vehicles, but since 2017 we have also
Citigroup analyst Itay Michaeli maintains Luminar Technologies (NASDAQ:LAZR) with a Buy and lowers the price target from $11 to $9.
Shares of Upstart Holdings, Inc. (NASDAQ:UPST) fell sharply during Wednesday's session after the company reported first-quarter financial results and issued second-quarter revenue guidance below estimates. Upstart reported first-quarter revenue of $128 million, which beat the consensus estimate of $124.867 million, according to Benzinga Pro. Upstart expects second-quarter revenue of approximately $125 million versus estimates of $140.83 million. The company anticipates a second-quarter adjusted EBITDA loss of approximately $25 million. Upstart shares dipped 10.3% to $21.96 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers Reborn Coffee, In
Wednesday witnessed a tempering of the bullish sentiment that had buoyed Wall Street in recent sessions, with major indices showing slight declines around midday trading in New York. Hawkish remarks from Minneapolis Fed President Neel Kashkari and Boston Fed President Susan Collins sparked concerns among investors about the potential delay in rate cuts, as the likelihood of enduring higher interest rates gained traction. Kashkari asserted that the Fed would likely need to maintain borrowing costs at current levels for an extended period, potentially throughout the year, and did not rule out rate hikes if inflation remained stubbornly high at 3%. Collins echoed similar sentiments, su
Gainers Cricut (NASDAQ:CRCT) stock rose 39.0% to $7.69 during Wednesday's regular session. The market value of their outstanding shares is at $1.6 billion. As per the news, the Q1 earnings report came out yesterday. Luminar Technologies (NASDAQ:LAZR) shares rose 31.8% to $2.17. The market value of their outstanding shares is at $968.9 million. As per the press release, Q1 earnings came out yesterday. Mullen Automotive (NASDAQ:MULN) stock rose 29.9% to $7.46. The company's market cap stands at $48.8 million. Latham Group (NASDAQ:SWIM) shares moved upwards by 21.07% to $3.62. The company's market cap stands at $417.6 million. As per the press release, Q1 earnings came out yesterday. ARKO