MYDA Advisors LLC acquired a new stake in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 89,300 shares of the company's stock, valued at approximately $480,000. MYDA Advisors LLC owned about 0.27% of Luminar Technologies as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. DnB Asset Management AS purchased a new position in Luminar Technologies in the fourth quarter valued at approximately $91,000. Entropy Technologies LP purchased a new position in shares of Luminar Technologies in the 4th quarter valued at $97,000. Stifel Financial Corp grew its position in shares of Luminar Technologies by 118.5% in the 3rd quarter. Stifel Financial Corp now owns 141,005 shares of the company's stock valued at $127,000 after buying an additional 76,470 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Luminar Technologies during the 4th quarter worth $155,000. Finally, Aristides Capital LLC purchased a new stake in Luminar Technologies in the fourth quarter valued at $176,000. Institutional investors and hedge funds own 30.99% of the company's stock.
Luminar Technologies Stock Performance
NASDAQ LAZR traded up $0.12 during trading on Friday, reaching $3.97. The company's stock had a trading volume of 1,188,328 shares, compared to its average volume of 1,912,310. The business's fifty day moving average price is $5.22 and its 200-day moving average price is $7.60. Luminar Technologies, Inc. has a twelve month low of $3.30 and a twelve month high of $34.80. The firm has a market cap of $168.28 million, a price-to-earnings ratio of -0.30 and a beta of 1.86.
Wall Street Analyst Weigh In
Separately, The Goldman Sachs Group cut their target price on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $53.86.
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About Luminar Technologies
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Free Report)
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.
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