Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 610,442 shares of the company’s stock after selling 30,207 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.12% of Luminar Technologies worth $549,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LAZR. PEAK6 Investments LLC acquired a new position in Luminar Technologies in the third quarter valued at approximately $25,000. Optas LLC bought a new position in Luminar Technologies during the 2nd quarter worth $26,000. Invst LLC bought a new position in Luminar Technologies during the 2nd quarter worth $28,000. Tyler Stone Wealth Management increased its position in Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock worth $33,000 after buying an additional 15,300 shares during the period. Finally, Algert Global LLC acquired a new position in shares of Luminar Technologies during the second quarter valued at $42,000. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Down 3.5 %

Shares of Luminar Technologies stock opened at $5.30 on Friday. The business has a fifty day simple moving average of $10.73 and a 200-day simple moving average of $15.73. The firm has a market cap of $176.56 million, a price-to-earnings ratio of -0.40 and a beta of 1.53. Luminar Technologies, Inc. has a fifty-two week low of $5.21 and a fifty-two week high of $55.35.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data 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 business had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. During the same period in the prior year, the firm earned ($4.95) EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. Analysts anticipate that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.