Luminar Technologies, Inc. (NASDAQ:LAZR) Position Increased by Stifel Financial Corp

Stifel Financial Corp lifted its position in Luminar Technologies, Inc. (NASDAQ:LAZR) by 118.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,005 shares of the company’s stock after acquiring an additional 76,470 shares during the period. Stifel Financial Corp’s holdings in Luminar Technologies were worth $127,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LAZR. Charles Schwab Investment Management Inc. boosted its stake in Luminar Technologies by 16.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock worth $2,691,000 after purchasing an additional 425,335 shares during the period. Blair William & Co. IL boosted its position in shares of Luminar Technologies by 51.7% in the second 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. SG Americas Securities LLC grew its holdings in shares of Luminar Technologies by 5,037.2% during the third quarter. SG Americas Securities LLC now owns 576,547 shares of the company’s stock valued at $519,000 after buying an additional 565,324 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Luminar Technologies by 14.8% during the second quarter. Rhumbline Advisers now owns 426,654 shares of the company’s stock valued at $636,000 after buying an additional 54,958 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Luminar Technologies by 6.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 376,155 shares of the company’s stock valued at $342,000 after buying an additional 22,400 shares during the period. 30.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LAZR shares. Craig Hallum decreased their price objective on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group decreased their price target on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 price objective on shares of Luminar Technologies in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.06.

Luminar Technologies Trading Down 6.5 %

LAZR stock opened at $5.46 on Tuesday. The firm has a market cap of $181.89 million, a PE ratio of -0.41 and a beta of 1.53. Luminar Technologies, Inc. has a 1 year low of $4.93 and a 1 year high of $53.48. The company has a fifty day simple moving average of $10.02 and a 200 day simple moving average of $15.06.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.30) by $0.90. The company had revenue of $15.49 million for the quarter, compared to the consensus estimate of $17.70 million. During the same quarter last year, the company posted ($4.95) EPS. The business’s revenue was down 8.6% compared to the same quarter last year. As a group, analysts forecast that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

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.