Mirae Asset Global Investments Co. Ltd. Has $140,000 Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 93.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 23,893 shares of the company’s stock after selling 352,262 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Luminar Technologies worth $140,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LAZR. Barclays PLC lifted its position in Luminar Technologies by 469.2% during the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock worth $757,000 after purchasing an additional 694,315 shares during the period. LRI Investments LLC lifted its holdings in shares of Luminar Technologies by 32,352.8% during the 3rd quarter. LRI Investments LLC now owns 162,264 shares of the company’s stock worth $146,000 after acquiring an additional 161,764 shares during the period. Caz Investments LP boosted its position in shares of Luminar Technologies by 100.0% during the 3rd quarter. Caz Investments LP now owns 300,000 shares of the company’s stock worth $270,000 after acquiring an additional 150,000 shares in the last quarter. Geode Capital Management LLC increased its stake in Luminar Technologies by 17.9% in the third quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock valued at $7,896,000 after acquiring an additional 1,331,067 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Luminar Technologies during the third quarter valued at approximately $316,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Stock Up 20.2 %

Shares of LAZR stock opened at $6.60 on Friday. Luminar Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $42.30. The stock’s fifty day simple moving average is $6.25 and its 200 day simple moving average is $11.01. The firm has a market capitalization of $219.85 million, a P/E ratio of -0.49 and a beta of 1.62.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Craig Hallum reduced their target price on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. The Goldman Sachs Group reduced their price objective on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Luminar Technologies has a consensus rating of “Hold” and a consensus price target of $50.06.

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.