Barclays PLC Cuts Stake in Luminar Technologies, Inc. (NASDAQ:LAZR)

Barclays PLC reduced its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 92.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,068 shares of the company's stock after selling 777,220 shares during the period. Barclays PLC owned about 0.20% of Luminar Technologies worth $350,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LAZR. Entropy Technologies LP bought a new position in Luminar Technologies in the 4th quarter worth about $97,000. SBI Securities Co. Ltd. acquired a new position in Luminar Technologies during the 4th quarter worth about $155,000. DnB Asset Management AS purchased a new position in Luminar Technologies during the 4th quarter worth approximately $91,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Luminar Technologies during the fourth quarter worth $1,452,000. Finally, Aristides Capital LLC acquired a new position in Luminar Technologies in the fourth quarter valued at $176,000. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group dropped their price objective on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $53.86.

Luminar Technologies Price Performance

Shares of LAZR traded down $0.07 on Tuesday, reaching $4.53. 1,568,884 shares of the stock traded hands, compared to its average volume of 1,953,444. The firm has a market cap of $192.02 million, a price-to-earnings ratio of -0.34 and a beta of 2.06. The stock's 50-day moving average price is $4.80 and its 200-day moving average price is $6.82. Luminar Technologies, Inc. has a 12 month low of $3.30 and a 12 month high of $32.70.

About Luminar Technologies

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.