Millennium Management LLC purchased a new stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 112,970 shares of the company's stock, valued at approximately $608,000. Millennium Management LLC owned approximately 0.34% of Luminar Technologies at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd bought a new position in Luminar Technologies in the 4th quarter worth $1,452,000. BNP Paribas Financial Markets acquired a new stake in Luminar Technologies in the 4th quarter worth $40,000. MYDA Advisors LLC acquired a new stake in Luminar Technologies in the 4th quarter worth $480,000. DnB Asset Management AS acquired a new stake in Luminar Technologies in the 4th quarter worth $91,000. Finally, Brevan Howard Capital Management LP grew its position in Luminar Technologies by 199.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company's stock worth $173,000 after purchasing an additional 21,416 shares during the last quarter. Institutional investors own 30.99% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. JPMorgan Chase & Co. restated a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group decreased their price target on shares of 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 analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Luminar Technologies has an average rating of "Hold" and a consensus target price of $53.86.
Read Our Latest Stock Report on LAZR
Luminar Technologies Stock Performance
Shares of Luminar Technologies stock opened at $3.37 on Friday. The firm's 50-day simple moving average is $4.06 and its 200-day simple moving average is $5.59. Luminar Technologies, Inc. has a twelve month low of $3.25 and a twelve month high of $32.70. The firm has a market cap of $157.98 million, a P/E ratio of -0.25 and a beta of 2.01.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, beating the consensus estimate of ($1.75) by $0.25. The business had revenue of $18.89 million for the quarter, compared to analyst estimates of $16.27 million. During the same quarter last year, the firm posted ($0.19) earnings per share. Luminar Technologies's revenue was down 10.0% on a year-over-year basis. On average, equities analysts forecast that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal year.
About Luminar Technologies
(
Free Report)
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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