Millennium Management LLC Makes New Investment in Luminar Technologies, Inc. (NASDAQ:LAZR)

Millennium Management LLC bought a new stake in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 112,970 shares of the company's stock, valued at approximately $608,000. Millennium Management LLC owned 0.34% of Luminar Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Luminar Technologies in the 4th quarter valued at approximately $1,452,000. BNP Paribas Financial Markets purchased a new position in shares of Luminar Technologies in the 4th quarter valued at approximately $40,000. MYDA Advisors LLC bought a new position in Luminar Technologies during the 4th quarter valued at approximately $480,000. DnB Asset Management AS bought a new position in Luminar Technologies during the 4th quarter valued at approximately $91,000. Finally, Brevan Howard Capital Management LP increased its position in Luminar Technologies by 199.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company's stock valued at $173,000 after buying an additional 21,416 shares in the last quarter. Hedge funds and other institutional investors own 30.99% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LAZR. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group reduced their price objective on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Luminar Technologies presently has a consensus rating of "Hold" and an average target price of $53.86.

Luminar Technologies Price Performance

NASDAQ LAZR traded down $0.19 during trading hours on Wednesday, hitting $3.27. The company's stock had a trading volume of 9,427,677 shares, compared to its average volume of 2,127,822. Luminar Technologies, Inc. has a 12 month low of $3.23 and a 12 month high of $32.70. The company's 50 day simple moving average is $3.96 and its two-hundred day simple moving average is $5.48. The company has a market cap of $153.29 million, a P/E ratio of -0.25 and a beta of 2.01.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) EPS for the quarter, topping the consensus estimate of ($1.75) by $0.25. The business had revenue of $18.89 million during the quarter, compared to the consensus estimate of $16.27 million. During the same quarter in the previous year, the business posted ($0.19) earnings per share. Luminar Technologies's quarterly revenue was down 10.0% compared to the same quarter last year. As a group, research analysts predict that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal 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.