Raymond James Financial Services Advisors Inc. Raises Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Raymond James Financial Services Advisors Inc. lifted its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 373,932 shares of the company’s stock after purchasing an additional 16,990 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.09% of Luminar Technologies worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American International Group Inc. lifted its position in Luminar Technologies by 1.5% during the fourth quarter. American International Group Inc. now owns 118,820 shares of the company’s stock valued at $588,000 after purchasing an additional 1,756 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Luminar Technologies by 13.7% in the second quarter. PNC Financial Services Group Inc. now owns 14,901 shares of the company’s stock worth $103,000 after acquiring an additional 1,799 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Luminar Technologies by 16.3% in the fourth quarter. Lazard Asset Management LLC now owns 14,072 shares of the company’s stock worth $69,000 after acquiring an additional 1,968 shares during the period. Amundi lifted its holdings in Luminar Technologies by 19.6% in the fourth quarter. Amundi now owns 12,676 shares of the company’s stock valued at $66,000 after acquiring an additional 2,074 shares during the period. Finally, FMR LLC boosted its position in Luminar Technologies by 5.5% in the first quarter. FMR LLC now owns 40,376 shares of the company’s stock worth $262,000 after purchasing an additional 2,102 shares during the last quarter. 30.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Luminar Technologies Stock Performance

Shares of Luminar Technologies stock opened at $1.30 on Friday. Luminar Technologies, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $8.32. The company has a market capitalization of $548.46 million, a P/E ratio of -0.88 and a beta of 1.48. The company has a fifty day moving average of $2.15 and a 200 day moving average of $2.83.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $22.11 million during the quarter, compared to analysts’ expectations of $27.25 million. Analysts forecast that Luminar Technologies, Inc. will post -1.01 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.