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

Mercer Global Advisors Inc. ADV decreased its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 88.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,386 shares of the company's stock after selling 159,913 shares during the period. Mercer Global Advisors Inc. ADV owned about 0.06% of Luminar Technologies worth $104,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nebula Research & Development LLC bought a new stake in Luminar Technologies during the 4th quarter valued at $192,000. MYDA Advisors LLC purchased a new stake in shares of Luminar Technologies during the fourth quarter worth $480,000. Aristides Capital LLC purchased a new stake in shares of Luminar Technologies during the fourth quarter worth $176,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Luminar Technologies during the fourth quarter worth $1,452,000. Finally, DnB Asset Management AS purchased a new stake in shares of Luminar Technologies during the fourth quarter worth $91,000. Hedge funds and other institutional investors own 30.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. restated a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group dropped their target price on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $53.86.

Luminar Technologies Trading Down 6.9%

Shares of Luminar Technologies stock traded down $0.27 during trading on Friday, hitting $3.63. The stock had a trading volume of 2,427,502 shares, compared to its average volume of 2,029,772. The firm has a market cap of $153.87 million, a price-to-earnings ratio of -0.27 and a beta of 2.06. Luminar Technologies, Inc. has a 12 month low of $3.30 and a 12 month high of $32.70. The business's 50-day moving average is $4.61 and its 200 day moving average is $6.38.

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 firm had revenue of $18.89 million during the quarter, compared to the consensus estimate of $16.27 million. The company's revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. As a group, equities analysts expect that Luminar Technologies, Inc. will post -14.2 EPS for the current 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.