Stock Traders Purchase High Volume of Put Options on Luminar Technologies (NASDAQ:LAZR)

Luminar Technologies, Inc. (NASDAQ:LAZR) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 31,129 put options on the company. This is an increase of 103% compared to the average volume of 15,341 put options.

Hedge Funds Weigh In On Luminar Technologies

Several institutional investors and hedge funds have recently bought and sold shares of LAZR. Quarry LP purchased a new position in Luminar Technologies during the 1st quarter valued at about $27,000. Jump Financial LLC purchased a new position in Luminar Technologies during the 2nd quarter valued at about $32,000. GAMMA Investing LLC grew its stake in Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company’s stock valued at $51,000 after acquiring an additional 8,666 shares in the last quarter. CWM LLC lifted its holdings in shares of Luminar Technologies by 1,194.5% during the 1st quarter. CWM LLC now owns 9,877 shares of the company’s stock valued at $53,000 after buying an additional 9,114 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Luminar Technologies during the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Price Performance

NASDAQ:LAZR opened at $1.82 on Wednesday. Luminar Technologies has a fifty-two week low of $1.58 and a fifty-two week high of $18.60. The stock’s 50-day moving average is $2.01 and its two-hundred day moving average is $2.97. The stock has a market cap of $125.14 million, a PE ratio of -0.65 and a beta of 2.05.

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Luminar Technologies in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $8.50.

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.