Handelsbanken Fonder AB Increases Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Handelsbanken Fonder AB raised its position in Luminar Technologies, Inc. (NASDAQ:LAZR) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,200 shares of the company’s stock after acquiring an additional 8,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Luminar Technologies were worth $196,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. 180 Wealth Advisors LLC acquired a new position in shares of Luminar Technologies in the third quarter valued at approximately $51,000. Vahanian & Associates Financial Planning Inc. acquired a new position in shares of Luminar Technologies in the fourth quarter worth $41,000. Brave Asset Management Inc. acquired a new position in shares of Luminar Technologies in the fourth quarter worth $49,000. Avantax Advisory Services Inc. acquired a new stake in shares of Luminar Technologies in the third quarter valued at $76,000. Finally, Tyler Stone Wealth Management boosted its holdings in Luminar Technologies by 71.8% in the third quarter. Tyler Stone Wealth Management now owns 17,700 shares of the company’s stock valued at $81,000 after purchasing an additional 7,400 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LAZR shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $4.00 price target (down previously from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Bank of America reaffirmed an “underperform” rating and issued a $1.20 target price (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price target (down previously 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 report on Thursday, February 29th. Finally, Rosenblatt Securities dropped their target price on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.39.

Luminar Technologies Price Performance

Shares of NASDAQ:LAZR opened at $1.68 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 $708.78 million, a P/E ratio of -1.14 and a beta of 1.54. The company’s fifty day moving average price is $1.79 and its 200 day moving average price is $2.56.

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