Howard Financial Services LTD. Increases Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Howard Financial Services LTD. increased its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 24.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,425 shares of the company’s stock after acquiring an additional 14,000 shares during the quarter. Howard Financial Services LTD.’s holdings in Luminar Technologies were worth $65,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LAZR. Leo Wealth LLC acquired a new position in shares of Luminar Technologies during the 4th quarter valued at about $43,000. Optas LLC acquired a new position in Luminar Technologies during the second quarter worth approximately $26,000. Invst LLC purchased a new position in Luminar Technologies during the second quarter worth approximately $28,000. Quadrature Capital Ltd acquired a new position in shares of Luminar Technologies in the 4th quarter valued at $67,000. Finally, Evergreen Wealth Solutions LLC purchased a new stake in shares of Luminar Technologies during the 1st quarter valued at $39,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LAZR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.00 target price on shares of Luminar Technologies in a research report on Tuesday, September 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $2.00 price objective on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Citigroup dropped their target price 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. The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research note on Thursday, July 11th. Finally, Westpark Capital reissued a “buy” rating and issued a $9.00 target price on shares of Luminar Technologies in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Luminar Technologies currently has an average rating of “Hold” and an average target price of $3.74.

Luminar Technologies Trading Up 0.3 %

NASDAQ LAZR opened at $0.83 on Wednesday. The stock has a market cap of $370.45 million, a P/E ratio of -0.60 and a beta of 1.60. The company’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $1.38. Luminar Technologies, Inc. has a 52 week low of $0.73 and a 52 week high of $4.47.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $16.50 million during the quarter, compared to analyst estimates of $20.36 million. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.37) EPS. On average, research analysts expect that Luminar Technologies, Inc. will post -0.97 EPS for the current fiscal year.

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.