180 Wealth Advisors LLC Increases Stock Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

180 Wealth Advisors LLC grew its position in Luminar Technologies, Inc. (NASDAQ:LAZR) by 65.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,702 shares of the company’s stock after purchasing an additional 8,161 shares during the period. 180 Wealth Advisors LLC’s holdings in Luminar Technologies were worth $41,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LAZR. Exchange Traded Concepts LLC raised its holdings in shares of Luminar Technologies by 100.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company’s stock valued at $17,225,000 after purchasing an additional 2,561,252 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Luminar Technologies by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock valued at $86,627,000 after purchasing an additional 1,671,708 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Luminar Technologies by 39.3% in the fourth quarter. Raymond James & Associates now owns 994,903 shares of the company’s stock valued at $3,353,000 after purchasing an additional 280,775 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Luminar Technologies by 48.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock valued at $2,407,000 after purchasing an additional 232,024 shares during the last quarter. Finally, Caerus Investment Advisors LLC purchased a new stake in shares of Luminar Technologies in the fourth quarter valued at about $615,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Down 8.6 %

Shares of NASDAQ:LAZR opened at $1.49 on Friday. The firm has a market capitalization of $663.97 million, a PE ratio of -1.09 and a beta of 1.62. Luminar Technologies, Inc. has a twelve month low of $1.21 and a twelve month high of $8.32. The company has a 50-day moving average price of $1.55 and a two-hundred day moving average price of $2.13.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.30). The business had revenue of $20.97 million for the quarter, compared to the consensus estimate of $22.09 million. Analysts anticipate that Luminar Technologies, Inc. will post -1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on LAZR shares. Citigroup decreased their price objective on shares of Luminar Technologies from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Bank of America restated an “underperform” rating and set a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.45.

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.