Daiwa Securities Group Inc. Purchases 16,116 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Daiwa Securities Group Inc. boosted its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 54.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,772 shares of the company’s stock after purchasing an additional 16,116 shares during the period. Daiwa Securities Group Inc.’s holdings in Luminar Technologies were worth $68,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Luminar Technologies by 27.9% during the 4th quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock valued at $117,000 after purchasing an additional 7,564 shares during the last quarter. Vanguard Group Inc. grew its holdings in Luminar Technologies by 7.0% during the 4th 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. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Luminar Technologies by 48.1% during the 4th 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. Susquehanna Fundamental Investments LLC bought a new position in Luminar Technologies during the 1st quarter valued at about $214,000. Finally, Leo Wealth LLC purchased a new stake in Luminar Technologies in the 4th quarter valued at about $43,000. 30.99% of the stock is currently owned by institutional investors.

Luminar Technologies Trading Down 12.8 %

NASDAQ:LAZR opened at $0.81 on Wednesday. The company’s 50-day moving average price is $1.24 and its 200-day moving average price is $1.50. The company has a market cap of $360.51 million, a P/E ratio of -0.59 and a beta of 1.61. Luminar Technologies, Inc. has a twelve month low of $0.73 and a twelve month high of $5.20.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The firm had revenue of $16.50 million for the quarter, compared to analyst estimates of $20.36 million. During the same quarter in the previous year, the business posted ($0.37) earnings per share. Luminar Technologies’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts expect that Luminar Technologies, Inc. will post -1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LAZR shares. Citigroup lowered their price objective on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Westpark Capital reaffirmed a “buy” rating and issued a $9.00 price target on shares of Luminar Technologies in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.00 price target on shares of Luminar Technologies in a research report on Tuesday, September 10th. Rosenblatt Securities lowered their price target on shares of Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.74.

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.