Nuveen Asset Management LLC Decreases Stake in Luminar Technologies, Inc. (NASDAQ:LAZR)

Nuveen Asset Management LLC lowered its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 95.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,394 shares of the company's stock after selling 1,125,793 shares during the quarter. Nuveen Asset Management LLC owned 0.16% of Luminar Technologies worth $293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LAZR. BNP Paribas Financial Markets bought a new position in Luminar Technologies during the 4th quarter worth about $40,000. DnB Asset Management AS bought a new stake in Luminar Technologies during the fourth quarter worth about $91,000. Entropy Technologies LP bought a new position in Luminar Technologies in the 4th quarter valued at approximately $97,000. SBI Securities Co. Ltd. bought a new stake in Luminar Technologies during the 4th quarter worth approximately $155,000. Finally, Brevan Howard Capital Management LP lifted its stake in shares of Luminar Technologies by 199.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company's stock worth $173,000 after acquiring an additional 21,416 shares during the period. 30.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LAZR has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their target price on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Luminar Technologies in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Luminar Technologies has a consensus rating of "Hold" and a consensus price target of $53.86.

Luminar Technologies Price Performance

Shares of NASDAQ LAZR traded down $0.03 during mid-day trading on Monday, reaching $3.34. 1,524,279 shares of the company's stock were exchanged, compared to its average volume of 2,080,663. The firm has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $5.55. The firm has a market capitalization of $156.58 million, a price-to-earnings ratio of -0.25 and a beta of 2.01. Luminar Technologies, Inc. has a 52 week low of $3.25 and a 52 week high of $32.70.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.75) by $0.25. The company 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 quarter last year, the business posted ($0.19) EPS. As a group, sell-side 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.