Barclays PLC Increases Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Barclays PLC boosted its stake in Luminar Technologies, Inc. (NASDAQ:LAZR) by 469.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 842,288 shares of the company’s stock after acquiring an additional 694,315 shares during the quarter. Barclays PLC owned about 0.17% of Luminar Technologies worth $757,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC boosted its stake in shares of Luminar Technologies by 32,352.8% in the third quarter. LRI Investments LLC now owns 162,264 shares of the company’s stock valued at $146,000 after purchasing an additional 161,764 shares during the period. Caz Investments LP raised 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 purchasing an additional 150,000 shares during the period. Main Management ETF Advisors LLC bought a new stake in shares of Luminar Technologies in the 3rd quarter worth approximately $457,000. Charles Schwab Investment Management Inc. boosted its position in Luminar Technologies by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock valued at $2,691,000 after purchasing an additional 425,335 shares during the period. Finally, Stifel Financial Corp grew its stake in Luminar Technologies by 118.5% during the 3rd quarter. Stifel Financial Corp now owns 141,005 shares of the company’s stock worth $127,000 after buying an additional 76,470 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Wall Street Analyst Weigh In

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

Luminar Technologies Trading Down 1.5 %

Shares of NASDAQ:LAZR opened at $5.38 on Wednesday. The company has a 50 day moving average of $9.75 and a 200-day moving average of $14.83. The firm has a market cap of $179.22 million, a P/E ratio of -0.40 and a beta of 1.53. Luminar Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $53.48.

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