Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Bought by LRI Investments LLC

LRI Investments LLC raised its stake in Luminar Technologies, Inc. (NASDAQ:LAZR) by 32,352.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 162,264 shares of the company’s stock after purchasing an additional 161,764 shares during the quarter. LRI Investments LLC’s holdings in Luminar Technologies were worth $146,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PEAK6 Investments LLC purchased a new position in Luminar Technologies in the 3rd quarter valued at $25,000. Optas LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter worth $26,000. Invst LLC purchased a new stake in shares of Luminar Technologies in the second quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Luminar Technologies during the third quarter worth about $31,000. Finally, Tyler Stone Wealth Management lifted its position in Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after purchasing an additional 15,300 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Trading Down 2.5 %

Shares of NASDAQ LAZR opened at $7.65 on Wednesday. The company’s 50-day moving average price is $11.91 and its 200 day moving average price is $16.75. Luminar Technologies, Inc. has a 52 week low of $7.02 and a 52 week high of $55.35. The stock has a market cap of $254.68 million, a price-to-earnings ratio of -0.55 and a beta of 1.53.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, beating the consensus estimate of ($3.30) by $0.90. The business had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. During the same quarter in the prior year, the company earned ($4.95) earnings per share. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, research analysts expect that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their target price on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a research report on Thursday, November 14th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price objective on shares of Luminar Technologies in a research report on Wednesday, October 2nd. Craig Hallum reduced their target price on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 price target on shares of Luminar Technologies in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.06.

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.