Nisa Investment Advisors LLC Purchases 13,820 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Nisa Investment Advisors LLC raised its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 153.4% in the fourth quarter, Holdings Channel reports. The fund owned 22,830 shares of the company’s stock after buying an additional 13,820 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Luminar Technologies were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LAZR. Vahanian & Associates Financial Planning Inc. bought a new stake in Luminar Technologies during the fourth quarter valued at about $41,000. Russell Investments Group Ltd. bought a new stake in Luminar Technologies during the second quarter valued at about $43,000. Brave Asset Management Inc. acquired a new position in shares of Luminar Technologies during the fourth quarter valued at about $49,000. 180 Wealth Advisors LLC acquired a new position in shares of Luminar Technologies during the third quarter valued at about $51,000. Finally, Sei Investments Co. acquired a new position in shares of Luminar Technologies during the third quarter valued at about $60,000. 30.99% of the stock is currently owned by institutional investors.

Luminar Technologies Stock Up 4.0 %

NASDAQ:LAZR opened at $1.31 on Friday. Luminar Technologies, Inc. has a 12-month low of $1.21 and a 12-month high of $8.32. The firm has a market capitalization of $552.68 million, a PE ratio of -0.89 and a beta of 1.48. The firm has a 50-day moving average price of $1.99 and a 200 day moving average price of $2.73.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results 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 company had revenue of $22.11 million for the quarter, compared to analysts’ expectations of $27.25 million. On average, research analysts expect that Luminar Technologies, Inc. will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LAZR. Rosenblatt Securities cut 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 report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $4.00 price objective (down previously from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. Bank of America reaffirmed an “underperform” rating and set a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a research report on Wednesday, April 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. Finally, The Goldman Sachs Group cut 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 report on Thursday, February 29th. Two equities 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.09.

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.