Mercer Global Advisors Inc. ADV Sells 159,913 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Mercer Global Advisors Inc. ADV lowered its stake in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 88.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,386 shares of the company's stock after selling 159,913 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.06% of Luminar Technologies worth $104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in LAZR. Entropy Technologies LP bought a new position in Luminar Technologies in the 4th quarter worth about $97,000. SBI Securities Co. Ltd. bought a new position in Luminar Technologies in the 4th quarter worth about $155,000. DnB Asset Management AS purchased a new stake in shares of Luminar Technologies in the 4th quarter valued at about $91,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Luminar Technologies in the 4th quarter valued at about $1,452,000. Finally, Aristides Capital LLC purchased a new stake in shares of Luminar Technologies in the 4th quarter valued at about $176,000. Institutional investors own 30.99% of the company's stock.

Wall Street Analyst Weigh In

LAZR has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their price target 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. reaffirmed a "neutral" rating on shares of Luminar Technologies in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Luminar Technologies has a consensus rating of "Hold" and an average price target of $53.86.

Luminar Technologies Trading Up 19.2%

Shares of NASDAQ LAZR opened at $4.72 on Friday. The stock has a market cap of $200.08 million, a price-to-earnings ratio of -0.35 and a beta of 2.06. Luminar Technologies, Inc. has a 1-year low of $3.30 and a 1-year high of $32.70. The stock's 50-day moving average is $4.77 and its 200 day moving average is $6.62.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) earnings per share 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 business's quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) earnings per share. On average, analysts forecast 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.

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