Daiwa Securities Group Inc. Acquires 18,980 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Daiwa Securities Group Inc. grew its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 150.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,593 shares of the company’s stock after purchasing an additional 18,980 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Luminar Technologies were worth $106,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LAZR. Commonwealth Equity Services LLC boosted its position in Luminar Technologies by 11.1% during the third quarter. Commonwealth Equity Services LLC now owns 126,606 shares of the company’s stock worth $576,000 after purchasing an additional 12,651 shares during the period. SVB Wealth LLC lifted its holdings in shares of Luminar Technologies by 204.8% in the third quarter. SVB Wealth LLC now owns 171,771 shares of the company’s stock worth $782,000 after buying an additional 115,422 shares in the last quarter. Raymond James & Associates boosted its position in shares of Luminar Technologies by 195.9% in the third quarter. Raymond James & Associates now owns 714,128 shares of the company’s stock valued at $3,249,000 after acquiring an additional 472,778 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Luminar Technologies by 45.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 356,942 shares of the company’s stock valued at $1,624,000 after acquiring an additional 110,816 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Luminar Technologies by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,200 shares of the company’s stock worth $265,000 after acquiring an additional 8,929 shares during the period. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Up 5.1 %

NASDAQ LAZR opened at $1.44 on Friday. The stock’s 50-day simple moving average is $1.87 and its two-hundred day simple moving average is $2.62. Luminar Technologies, Inc. has a twelve month low of $1.21 and a twelve month high of $8.32. The company has a market capitalization of $607.52 million, a price-to-earnings ratio of -0.98 and a beta of 1.48.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results 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 business had revenue of $22.11 million during the quarter, compared to analyst estimates of $27.25 million. On average, equities analysts expect that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LAZR. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $4.00 price target (down from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. The Goldman Sachs Group lowered their price target on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities dropped their price target on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Finally, Bank of America reiterated 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. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.39.

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.