Wealth Enhancement Advisory Services LLC Grows Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Wealth Enhancement Advisory Services LLC grew its stake in Luminar Technologies, Inc. (NASDAQ:LAZR) by 30.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,452 shares of the company’s stock after purchasing an additional 12,685 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Luminar Technologies were worth $49,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LAZR. Vanguard Group Inc. boosted its position in Luminar Technologies by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock worth $53,239,000 after purchasing an additional 1,319,480 shares in the last quarter. Boulder Hill Capital Management LP acquired a new position in shares of Luminar Technologies during the 1st quarter worth approximately $1,375,000. SG Americas Securities LLC raised its stake in shares of Luminar Technologies by 5,037.2% during the 3rd quarter. SG Americas Securities LLC now owns 576,547 shares of the company’s stock worth $519,000 after buying an additional 565,324 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Luminar Technologies during the 2nd quarter worth approximately $604,000. Finally, Blair William & Co. IL raised its stake in shares of Luminar Technologies by 51.7% during the 2nd quarter. Blair William & Co. IL now owns 605,735 shares of the company’s stock worth $903,000 after buying an additional 206,512 shares during the period. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Down 7.1 %

Shares of NASDAQ:LAZR opened at $1.05 on Thursday. The business has a fifty day moving average of $0.85 and a two-hundred day moving average of $1.25. The stock has a market cap of $518.45 million, a P/E ratio of -1.18 and a beta of 1.61. Luminar Technologies, Inc. has a 52-week low of $0.73 and a 52-week high of $3.69.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Monday, November 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.06. The company had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.33) earnings per share. On average, equities analysts anticipate that Luminar Technologies, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Craig Hallum reduced their target price on Luminar Technologies from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.00 target price on shares of Luminar Technologies in a research note on Tuesday, September 10th. Westpark Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $2.00 price objective on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Luminar Technologies currently has a consensus rating of “Hold” and a consensus price target of $3.40.

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.