Evoke Wealth LLC Sells 22,204 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Evoke Wealth LLC lessened its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 51.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,810 shares of the company’s stock after selling 22,204 shares during the period. Evoke Wealth LLC’s holdings in Luminar Technologies were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Luminar Technologies by 27.9% in the fourth quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock worth $117,000 after purchasing an additional 7,564 shares during the period. Vanguard Group Inc. raised its holdings in shares of Luminar Technologies by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock valued at $86,627,000 after acquiring an additional 1,671,708 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Luminar Technologies during the 1st quarter valued at about $214,000. Leo Wealth LLC bought a new stake in shares of Luminar Technologies during the 4th quarter valued at about $43,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Luminar Technologies by 0.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock worth $3,675,000 after purchasing an additional 14,604 shares in the last quarter. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Luminar Technologies Price Performance

Shares of Luminar Technologies stock opened at $0.84 on Friday. Luminar Technologies, Inc. has a one year low of $0.73 and a one year high of $4.63. The business’s 50 day simple moving average is $1.18 and its two-hundred day simple moving average is $1.48. The stock has a market capitalization of $373.08 million, a P/E ratio of -0.61 and a beta of 1.61.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.37) earnings per share. Sell-side analysts expect that Luminar Technologies, Inc. will post -1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LAZR shares. Westpark Capital reiterated a “buy” rating and set a $9.00 target price on shares of Luminar Technologies in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their target price 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. The Goldman Sachs Group reduced their target price on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a research note on Thursday, July 11th. Rosenblatt Securities dropped their price target on Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.00 price objective on shares of Luminar Technologies in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.74.

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.