Point72 Asia Singapore Pte. Ltd. Takes $31,000 Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Point72 Asia Singapore Pte. Ltd. bought a new position in Luminar Technologies, Inc. (NASDAQ:LAZR) during the third quarter, Holdings Channel.com reports. The fund bought 34,970 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LAZR. Caz Investments LP increased its holdings in shares of Luminar Technologies by 100.0% in the third quarter. Caz Investments LP now owns 300,000 shares of the company’s stock valued at $270,000 after buying an additional 150,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Luminar Technologies by 30.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock valued at $294,000 after purchasing an additional 34,566 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Luminar Technologies in the 2nd quarter valued at $55,000. Daiwa Securities Group Inc. increased its stake in Luminar Technologies by 54.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 45,772 shares of the company’s stock worth $68,000 after purchasing an additional 16,116 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Luminar Technologies by 168.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 49,046 shares of the company’s stock worth $73,000 after buying an additional 30,796 shares during the period. 30.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LAZR has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Rosenblatt Securities reiterated a “neutral” rating and set a $30.00 price objective on shares of Luminar Technologies in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 target price on shares of Luminar Technologies in a report on Tuesday, September 10th. The Goldman Sachs Group lowered their price target on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a report on Thursday, November 14th. Finally, Citigroup reduced their price objective on Luminar Technologies from $135.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.06.

Luminar Technologies Trading Up 3.7 %

Shares of NASDAQ:LAZR opened at $7.81 on Friday. The firm has a market cap of $260.15 million, a price-to-earnings ratio of -0.59 and a beta of 1.53. Luminar Technologies, Inc. has a 1 year low of $7.44 and a 1 year high of $55.35. The business has a fifty day simple moving average of $12.02 and a 200 day simple moving average of $16.95.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results on Monday, November 11th. The company reported ($2.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.30) by $0.90. The firm had revenue of $15.49 million for the quarter, compared to analysts’ expectations of $17.70 million. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the business earned ($4.95) earnings per share. On average, sell-side analysts forecast that Luminar Technologies, Inc. will post -14.2 EPS for the current year.

About Luminar Technologies

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.