Nuveen Asset Management LLC lowered its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 95.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,394 shares of the company's stock after selling 1,125,793 shares during the period. Nuveen Asset Management LLC owned about 0.16% of Luminar Technologies worth $293,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of Luminar Technologies in the 4th quarter valued at about $40,000. DnB Asset Management AS bought a new stake in shares of Luminar Technologies in the 4th quarter valued at about $91,000. Entropy Technologies LP bought a new stake in shares of Luminar Technologies in the 4th quarter valued at about $97,000. SBI Securities Co. Ltd. bought a new stake in shares of Luminar Technologies in the 4th quarter valued at about $155,000. Finally, Brevan Howard Capital Management LP lifted its stake in shares of Luminar Technologies by 199.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company's stock valued at $173,000 after acquiring an additional 21,416 shares during the last quarter. Institutional investors own 30.99% of the company's stock.
Luminar Technologies Price Performance
LAZR opened at $3.32 on Friday. The business has a 50 day simple moving average of $4.10 and a two-hundred day simple moving average of $5.69. The firm has a market capitalization of $155.64 million, a price-to-earnings ratio of -0.25 and a beta of 2.01. Luminar Technologies, Inc. has a one year low of $3.25 and a one year high of $32.70.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($1.50) EPS for the quarter, beating analysts' consensus estimates of ($1.75) by $0.25. The business had revenue of $18.89 million for the quarter, compared to the consensus estimate of $16.27 million. The company's revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) EPS. As a group, sell-side analysts expect that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Luminar Technologies in a research note on Thursday, May 15th. 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 research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Luminar Technologies presently has a consensus rating of "Hold" and an average target price of $53.86.
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About Luminar Technologies
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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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