Rhumbline Advisers Has $194,000 Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Rhumbline Advisers raised its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 19.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,024 shares of the company’s stock after purchasing an additional 5,810 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Luminar Technologies worth $194,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Luminar Technologies during the 4th quarter worth $40,000. GAMMA Investing LLC increased its position in Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company’s stock worth $51,000 after buying an additional 8,666 shares during the period. DnB Asset Management AS bought a new position in Luminar Technologies during the 4th quarter worth $91,000. Brevan Howard Capital Management LP increased its position in Luminar Technologies by 199.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company’s stock worth $173,000 after buying an additional 21,416 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Luminar Technologies during the 4th quarter worth $155,000. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Performance

Shares of NASDAQ LAZR opened at $2.69 on Thursday. Luminar Technologies, Inc. has a 52 week low of $2.52 and a 52 week high of $32.70. The stock has a market capitalization of $126.11 million, a P/E ratio of -0.41 and a beta of 2.01. The stock’s fifty day moving average is $3.65 and its 200 day moving average is $5.09.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.75) by $0.25. The business had revenue of $18.89 million during the quarter, compared to the consensus estimate of $16.27 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s revenue was down 10.0% on a year-over-year basis. Equities research analysts forecast that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

Analyst Ratings Changes

LAZR has been the topic of a number of recent analyst reports. 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 target on 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Luminar Technologies presently has a consensus rating of “Hold” and a consensus price target of $53.86.

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.