Deutsche Bank AG Sells 337,618 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Deutsche Bank AG cut its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 97.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,039 shares of the company’s stock after selling 337,618 shares during the period. Deutsche Bank AG’s holdings in Luminar Technologies were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Luminar Technologies during the fourth quarter valued at about $1,452,000. MYDA Advisors LLC bought a new stake in shares of Luminar Technologies during the fourth quarter valued at about $480,000. Nebula Research & Development LLC bought a new position in shares of Luminar Technologies in the fourth quarter worth approximately $192,000. Aristides Capital LLC bought a new position in shares of Luminar Technologies in the fourth quarter worth approximately $176,000. Finally, Brevan Howard Capital Management LP increased its position in shares of Luminar Technologies by 199.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company’s stock worth $173,000 after purchasing an additional 21,416 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on LAZR. JPMorgan Chase & Co. restated a “neutral” rating on shares of Luminar Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $3.50 to $2.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Luminar Technologies has an average rating of “Hold” and an average target price of $53.86.

Luminar Technologies Trading Down 2.6%

LAZR stock opened at $3.43 on Wednesday. The stock has a market cap of $160.79 million, a price-to-earnings ratio of -0.26 and a beta of 2.01. The company’s 50 day moving average is $4.19 and its 200 day moving average is $5.77. Luminar Technologies, Inc. has a 1-year low of $3.30 and a 1-year high of $32.70.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.75) by $0.25. The firm had revenue of $18.89 million during the quarter, compared to analysts’ expectations of $16.27 million. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) EPS. As a group, sell-side analysts forecast that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal 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.