Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its position in Luminar Technologies, Inc. (NASDAQ:LAZR) by 39.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 994,903 shares of the company’s stock after purchasing an additional 280,775 shares during the quarter. Raymond James & Associates owned about 0.25% of Luminar Technologies worth $3,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Luminar Technologies by 17.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,762 shares of the company’s stock valued at $512,000 after acquiring an additional 4,925 shares during the period. HighTower Advisors LLC increased its stake in shares of Luminar Technologies by 4.7% during the first quarter. HighTower Advisors LLC now owns 92,048 shares of the company’s stock valued at $1,444,000 after acquiring an additional 4,153 shares during the period. Citigroup Inc. increased its stake in shares of Luminar Technologies by 30.5% during the first quarter. Citigroup Inc. now owns 146,881 shares of the company’s stock valued at $2,296,000 after acquiring an additional 34,316 shares during the period. BlackRock Inc. increased its stake in shares of Luminar Technologies by 23.0% during the first quarter. BlackRock Inc. now owns 4,623,810 shares of the company’s stock valued at $72,272,000 after acquiring an additional 865,041 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Luminar Technologies by 1.0% during the first quarter. Allianz Asset Management GmbH now owns 3,023,514 shares of the company’s stock valued at $47,258,000 after acquiring an additional 30,900 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Stock Down 9.7 %

LAZR stock opened at $1.30 on Friday. Luminar Technologies, Inc. has a 12-month low of $1.24 and a 12-month high of $8.32. The company has a market cap of $548.46 million, a price-to-earnings ratio of -0.88 and a beta of 1.48. The company has a 50 day moving average of $2.15 and a two-hundred day moving average of $2.83.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $22.11 million for the quarter, compared to the consensus estimate of $27.25 million. On average, research analysts anticipate that Luminar Technologies, Inc. will post -1.01 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on LAZR shares. Bank of America reiterated an “underperform” rating and set a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a research note on Wednesday. Rosenblatt Securities reduced their target price on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. restated an “overweight” rating and set a $8.00 target price (down from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a research note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $4.00 price objective (down previously from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.09.

Luminar Technologies 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.