5 Best Lidar Stocks To Buy Now

4. Luminar Technologies, Inc. (NASDAQ:LAZR)

Number of Hedge Fund Holders: 17

Luminar Technologies, Inc. (NASDAQ:LAZR) is an American technology company that develops vision-based lidar and machine perception technologies, primarily for self-driving cars. The company enables solutions for series production passenger cars and commercial trucks, as well as other targeted markets.

Rosenblatt analyst Kevin Cassidy initiated coverage of Luminar Technologies, Inc. (NASDAQ:LAZR) with a Neutral rating and $8 price target on October 24. According to Cassidy, Luminar Technologies has an “impressive” lidar design and list of automotive partners, but the positives are priced into the shares. The next obstacle for the company is to move the Iris into series production, says the analyst, who sees “many risks for ramping into volume production.”

At the end of the second quarter of 2022, 17 hedge funds in the database of Insider Monkey held stakes worth $52.9 million in Luminar Technologies, Inc. (NASDAQ:LAZR), compared to 16 in the preceding quarter worth $133.8 million.

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