Mirae Asset Global Investments Co. Ltd. Grows Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Luminar Technologies, Inc. (NASDAQ:LAZR) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,850,974 shares of the company’s stock after purchasing an additional 86,766 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Luminar Technologies were worth $6,238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Luminar Technologies by 2.3% in the third quarter. Vanguard Group Inc. now owns 24,033,655 shares of the company’s stock valued at $109,353,000 after purchasing an additional 543,313 shares during the period. BlackRock Inc. grew its stake in Luminar Technologies by 9.0% during the second quarter. BlackRock Inc. now owns 19,405,443 shares of the company’s stock worth $133,509,000 after buying an additional 1,602,206 shares during the period. Macquarie Group Ltd. grew its stake in Luminar Technologies by 33.1% during the fourth quarter. Macquarie Group Ltd. now owns 7,745,035 shares of the company’s stock worth $38,338,000 after buying an additional 1,928,021 shares during the period. Morgan Stanley grew its stake in Luminar Technologies by 326.9% during the third quarter. Morgan Stanley now owns 6,102,415 shares of the company’s stock worth $27,766,000 after buying an additional 4,672,831 shares during the period. Finally, State Street Corp grew its stake in Luminar Technologies by 12.0% during the second quarter. State Street Corp now owns 5,994,332 shares of the company’s stock worth $41,241,000 after buying an additional 642,796 shares during the period. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LAZR has been the subject of several research reports. Rosenblatt Securities decreased their price objective on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research note 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. Bank of America reissued an “underperform” rating and set a $1.20 target price (down from $3.50) on shares of Luminar Technologies in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.09.

Luminar Technologies Stock Performance

Shares of NASDAQ:LAZR opened at $1.30 on Monday. The stock has a market capitalization of $548.46 million, a price-to-earnings ratio of -0.88 and a beta of 1.48. Luminar Technologies, Inc. has a 1-year low of $1.24 and a 1-year high of $8.32. The company’s fifty day moving average is $2.15 and its two-hundred day moving average is $2.82.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $22.11 million for the quarter, compared to the consensus estimate of $27.25 million. Sell-side analysts expect that Luminar Technologies, Inc. will post -1.01 EPS for the current fiscal year.

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.