Cresset Asset Management LLC Has $157,000 Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Cresset Asset Management LLC trimmed its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 93.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,130 shares of the company's stock after selling 419,656 shares during the period. Cresset Asset Management LLC owned approximately 0.09% of Luminar Technologies worth $157,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LAZR. BNP Paribas Financial Markets bought a new stake in shares of Luminar Technologies in the fourth quarter valued at about $40,000. DnB Asset Management AS bought a new stake in shares of Luminar Technologies in the fourth quarter valued at about $91,000. Entropy Technologies LP bought a new stake in shares of Luminar Technologies in the fourth quarter valued at about $97,000. SBI Securities Co. Ltd. bought a new stake in shares of Luminar Technologies in the fourth quarter valued at about $155,000. Finally, Brevan Howard Capital Management LP lifted its stake in shares of Luminar Technologies by 199.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company's stock valued at $173,000 after buying an additional 21,416 shares during the period. Institutional investors own 30.99% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LAZR. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Luminar Technologies in a research note on Thursday, May 15th. The Goldman Sachs Group reduced their target price on shares of Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.86.

Luminar Technologies Stock Down 6.9%

LAZR traded down $0.27 during midday trading on Friday, reaching $3.63. 2,427,502 shares of the company's stock were exchanged, compared to its average volume of 2,036,843. The firm has a market capitalization of $153.87 million, a price-to-earnings ratio of -0.27 and a beta of 2.06. Luminar Technologies, Inc. has a one year low of $3.30 and a one year high of $32.70. The business has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $6.32.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, topping the consensus estimate of ($1.75) by $0.25. The firm had revenue of $18.89 million for the quarter, compared to analyst estimates of $16.27 million. The business's quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. As a group, research analysts anticipate that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

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.