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

Price T Rowe Associates Inc. MD trimmed its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 89.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,636 shares of the company's stock after selling 174,261 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of Luminar Technologies worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LAZR. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Luminar Technologies during the fourth quarter worth about $1,452,000. MYDA Advisors LLC acquired a new position in shares of Luminar Technologies during the fourth quarter worth about $480,000. DnB Asset Management AS acquired a new position in shares of Luminar Technologies during the fourth quarter worth about $91,000. SBI Securities Co. Ltd. acquired a new position in shares of Luminar Technologies during the fourth quarter worth about $155,000. Finally, Entropy Technologies LP acquired a new position in shares of Luminar Technologies during the fourth quarter worth about $97,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Stock Performance

LAZR traded down $0.27 on Friday, hitting $3.63. 2,427,502 shares of the company were exchanged, compared to its average volume of 2,029,772. Luminar Technologies, Inc. has a 12 month low of $3.30 and a 12 month high of $32.70. The company has a market cap of $153.87 million, a PE ratio of -0.27 and a beta of 2.06. The stock's fifty day moving average is $4.61 and its 200-day moving average is $6.38.

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

Analyst Upgrades and Downgrades

LAZR has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group dropped their target price on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Luminar Technologies presently has an average rating of "Hold" and a consensus price target of $53.86.

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.