Invesco Ltd. Purchases New Position in Luminar Technologies, Inc. $LAZR

Key Points

• Invesco Ltd. invested approximately $881,000 in Luminar Technologies, acquiring 163,432 shares during the first quarter, representing about 0.39% of the company's stock.
• Luminar Technologies reported ($1.49) EPS for the latest quarter, missing estimates, with quarterly revenue declining 5.0% year-over-year.
• Currently, 30.99% of Luminar's stock is held by institutional investors, with several hedge funds increasing their stakes in the company.

Invesco Ltd. purchased a new stake in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 163,432 shares of the company's stock, valued at approximately $881,000. Invesco Ltd. owned 0.39% of Luminar Technologies as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in shares of Luminar Technologies by 19.2% during the 1st quarter. Rhumbline Advisers now owns 36,024 shares of the company's stock worth $194,000 after acquiring an additional 5,810 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Luminar Technologies by 22.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 35,298 shares of the company's stock worth $190,000 after acquiring an additional 6,470 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Luminar Technologies during the 4th quarter worth approximately $40,000. GAMMA Investing LLC boosted its position in shares of Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock worth $51,000 after acquiring an additional 8,666 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Luminar Technologies by 15.1% during the 1st quarter. Bank of New York Mellon Corp now owns 68,271 shares of the company's stock worth $368,000 after acquiring an additional 8,970 shares in the last quarter. 30.99% of the stock is owned by institutional investors.

Luminar Technologies Stock Performance

Shares of NASDAQ:LAZR traded down $0.03 during mid-day trading on Friday, reaching $1.66. 2,536,396 shares of the company's stock were exchanged, compared to its average volume of 4,077,228. The firm has a market capitalization of $114.14 million, a price-to-earnings ratio of -0.59 and a beta of 1.95. The business's fifty day moving average price is $2.60 and its 200-day moving average price is $3.79. Luminar Technologies, Inc. has a twelve month low of $1.58 and a twelve month high of $18.60.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.30). The firm had revenue of $15.63 million for the quarter, compared to the consensus estimate of $17.27 million. The business's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) EPS. Luminar Technologies has set its FY 2025 guidance at EPS. Analysts predict that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. restated a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $15.50.

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.