Invesco Ltd. Makes New $881,000 Investment in Luminar Technologies, Inc. $LAZR

Invesco Ltd. bought a new position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 163,432 shares of the company’s stock, valued at approximately $881,000. Invesco Ltd. owned approximately 0.39% of Luminar Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LAZR. Squarepoint Ops LLC lifted its holdings in Luminar Technologies by 187.9% during the fourth quarter. Squarepoint Ops LLC now owns 75,542 shares of the company’s stock worth $406,000 after acquiring an additional 161,477 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Luminar Technologies in the fourth quarter valued at about $608,000. Summit X LLC lifted its holdings in shares of Luminar Technologies by 270.6% in the first quarter. Summit X LLC now owns 73,487 shares of the company’s stock valued at $396,000 after purchasing an additional 53,659 shares in the last quarter. MASO CAPITAL PARTNERS Ltd bought a new stake in shares of Luminar Technologies in the first quarter valued at about $270,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Luminar Technologies by 21.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 219,766 shares of the company’s stock valued at $1,185,000 after purchasing an additional 38,549 shares in the last quarter. 30.99% of the stock is currently owned by institutional investors.

Luminar Technologies Stock Performance

LAZR opened at $1.63 on Wednesday. Luminar Technologies, Inc. has a 52-week low of $1.58 and a 52-week high of $18.60. The firm has a market capitalization of $112.08 million, a PE ratio of -0.58 and a beta of 1.95. The business’s 50-day simple moving average is $2.67 and its 200 day simple moving average is $3.87.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Tuesday, August 12th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.30). The company had revenue of $15.63 million during the quarter, compared to analyst estimates of $17.27 million. During the same quarter in the previous year, the firm earned ($0.18) EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. Luminar Technologies has set its FY 2025 guidance at EPS. On average, research analysts forecast that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. restated a “neutral” rating on shares of Luminar Technologies in a report on Thursday, May 15th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Luminar Technologies currently has an average rating of “Reduce” and an average price target of $15.50.

Luminar Technologies Company 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.