Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Sold by Deutsche Bank AG

Deutsche Bank AG trimmed its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 97.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,039 shares of the company's stock after selling 337,618 shares during the quarter. Deutsche Bank AG's holdings in Luminar Technologies were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new stake in shares of Luminar Technologies during the 4th quarter worth about $97,000. SBI Securities Co. Ltd. purchased a new stake in shares of Luminar Technologies during the 4th quarter worth about $155,000. DnB Asset Management AS purchased a new stake in shares of Luminar Technologies during the 4th quarter worth about $91,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Luminar Technologies during the 4th quarter worth about $1,452,000. Finally, Aristides Capital LLC purchased a new stake in shares of Luminar Technologies during the 4th quarter worth about $176,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Luminar Technologies in a research note on Thursday, May 15th. The Goldman Sachs Group lowered their target price on shares of 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, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Luminar Technologies currently has an average rating of "Hold" and an average target price of $53.86.

Luminar Technologies Stock Performance

Shares of LAZR traded down $0.11 during mid-day trading on Thursday, hitting $3.32. 2,223,931 shares of the company were exchanged, compared to its average volume of 2,064,019. Luminar Technologies, Inc. has a 1-year low of $3.26 and a 1-year high of $32.70. The company has a 50 day moving average of $4.14 and a 200-day moving average of $5.76. The stock has a market cap of $155.64 million, a price-to-earnings ratio of -0.25 and a beta of 2.01.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings results 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 company had revenue of $18.89 million for the quarter, compared to analyst estimates of $16.27 million. The firm's revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) EPS. Research analysts anticipate that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal year.

Luminar Technologies Company 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.