Balyasny Asset Management L.P. Sells 132,691 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Balyasny Asset Management L.P. reduced its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 87.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,428 shares of the company's stock after selling 132,691 shares during the quarter. Balyasny Asset Management L.P. owned about 0.06% of Luminar Technologies worth $105,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Luminar Technologies during the fourth quarter valued at approximately $1,452,000. MYDA Advisors LLC bought a new stake in shares of Luminar Technologies during the fourth quarter valued at approximately $480,000. Nebula Research & Development LLC bought a new stake in shares of Luminar Technologies during the fourth quarter valued at approximately $192,000. Aristides Capital LLC bought a new stake in Luminar Technologies in the fourth quarter worth $176,000. Finally, SBI Securities Co. Ltd. bought a new stake in Luminar Technologies in the fourth quarter worth $155,000. 30.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. The Goldman Sachs Group dropped their target price on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Luminar Technologies in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $53.86.

Luminar Technologies Price Performance

Luminar Technologies stock traded down $0.27 during mid-day trading on Friday, reaching $3.63. 2,427,502 shares of the stock traded hands, compared to its average volume of 2,036,843. The stock has a market capitalization of $153.87 million, a PE ratio of -0.27 and a beta of 2.06. Luminar Technologies, Inc. has a 12-month low of $3.30 and a 12-month high of $32.70. The business's 50-day moving average is $4.61 and its 200-day moving average is $6.32.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) EPS for the quarter, beating analysts' consensus estimates of ($1.75) by $0.25. The firm had revenue of $18.89 million for the quarter, compared to analysts' expectations of $16.27 million. The firm's revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) EPS. Equities analysts anticipate that Luminar Technologies, Inc. will post -14.2 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.