Price T Rowe Associates Inc. MD Sells 174,261 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Price T Rowe Associates Inc. MD lowered its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 89.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,636 shares of the company's stock after selling 174,261 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Luminar Technologies worth $117,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LAZR. DnB Asset Management AS bought a new stake in Luminar Technologies during the 4th quarter worth about $91,000. Entropy Technologies LP acquired a new position in Luminar Technologies during the 4th quarter valued at about $97,000. SBI Securities Co. Ltd. acquired a new position in Luminar Technologies during the 4th quarter valued at about $155,000. Aristides Capital LLC acquired a new position in Luminar Technologies during the 4th quarter valued at about $176,000. Finally, MYDA Advisors LLC acquired a new position in Luminar Technologies during the 4th quarter valued at about $480,000. Institutional investors own 30.99% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on LAZR. The Goldman Sachs Group cut their target price 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. JPMorgan Chase & Co. restated a "neutral" rating on shares of Luminar Technologies in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $53.86.

Luminar Technologies Price Performance

Shares of NASDAQ:LAZR opened at $4.72 on Friday. The company has a market capitalization of $200.08 million, a price-to-earnings ratio of -0.35 and a beta of 2.06. The firm's 50 day simple moving average is $4.77 and its 200 day simple moving average is $6.62. Luminar Technologies, Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $32.70.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, beating analysts' consensus estimates of ($1.75) by $0.25. The firm had revenue of $18.89 million during the quarter, compared to analyst estimates of $16.27 million. The business's revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Equities research analysts expect that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

Luminar Technologies Company 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.

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