Bank of Montreal Can Has $68,000 Stock Position in Luminar Technologies, Inc. $LAZR

Key Points

• Bank of Montreal Canada cut its stake in Luminar by 98.5% in Q2, leaving it with 23,602 shares valued at about $68,000.
• Luminar shares opened at $0.86 and were down 5.1%, with a market cap of approximately $58.8 million and a 12‑month low of $0.81, underscoring recent weakness.
• Despite beating quarterly EPS (‑$0.94 vs. estimate ‑$1.08) and revenue estimates, analysts collectively rate the stock a Strong Sell with an average price target of $2.00.

Bank of Montreal Can cut its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 98.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,602 shares of the company's stock after selling 1,581,435 shares during the period. Bank of Montreal Can owned 0.05% of Luminar Technologies worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quarry LP bought a new position in Luminar Technologies during the 1st quarter worth approximately $27,000. CWM LLC boosted its position in shares of Luminar Technologies by 1,194.5% during the first quarter. CWM LLC now owns 9,877 shares of the company's stock worth $53,000 after purchasing an additional 9,114 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Luminar Technologies in the 1st quarter valued at $90,000. Headlands Technologies LLC acquired a new position in shares of Luminar Technologies in the 1st quarter valued at $90,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Luminar Technologies in the 1st quarter valued at $102,000. Institutional investors and hedge funds own 30.99% of the company's stock.

Luminar Technologies Stock Down 5.1%

Luminar Technologies stock opened at $0.86 on Friday. The company's 50-day moving average price is $1.77 and its two-hundred day moving average price is $2.53. The stock has a market cap of $58.79 million, a P/E ratio of -0.17 and a beta of 2.03. Luminar Technologies, Inc. has a twelve month low of $0.81 and a twelve month high of $10.89.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.14. The business had revenue of $18.75 million during the quarter, compared to analyst estimates of $17.56 million. Equities analysts anticipate that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on LAZR. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Luminar Technologies in a research note on Monday, November 3rd. Weiss Ratings reissued a "sell (e+)" rating on shares of Luminar Technologies in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Luminar Technologies presently has an average rating of "Strong Sell" and an average price target of $2.00.

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.

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