XTX Topco Ltd Cuts Position in Luminar Technologies, Inc. $LAZR

Key Points

• XTX Topco Ltd reduced its stake in Luminar Technologies by 86.4% during the first quarter, now owning approximately 23,046 shares worth $124,000.
• Several institutional investors have increased their positions in Luminar, with CWM LLC growing its position by 1,194.5% in the same quarter.
• JPMorgan Chase & Co. has reaffirmed a "neutral" rating on Luminar Technologies, which has a consensus rating of "Hold" and an average target price of $40.33.

XTX Topco Ltd cut its stake in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 86.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,046 shares of the company's stock after selling 146,269 shares during the quarter. XTX Topco Ltd owned approximately 0.05% of Luminar Technologies worth $124,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LAZR. BNP Paribas Financial Markets acquired a new position in shares of Luminar Technologies during the fourth quarter valued at approximately $40,000. GAMMA Investing LLC increased its position in shares of Luminar Technologies by 1,077.9% during the first quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock worth $51,000 after purchasing an additional 8,666 shares in the last quarter. CWM LLC raised its stake in Luminar Technologies by 1,194.5% in the 1st quarter. CWM LLC now owns 9,877 shares of the company's stock valued at $53,000 after purchasing an additional 9,114 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in Luminar Technologies in the 1st quarter valued at $108,000. Finally, Brevan Howard Capital Management LP boosted its stake 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 worth $173,000 after purchasing an additional 21,416 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. restated a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.40.

Luminar Technologies Trading Down 7.7%

LAZR stock traded down $0.17 during midday trading on Tuesday, hitting $1.99. 2,563,015 shares of the company's stock were exchanged, compared to its average volume of 2,917,361. Luminar Technologies, Inc. has a 1-year low of $1.99 and a 1-year high of $18.60. The stock has a market capitalization of $93.06 million, a PE ratio of -0.71 and a beta of 1.96. The business has a 50-day simple moving average of $2.91 and a two-hundred day simple moving average of $4.16.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.30). The firm had revenue of $15.63 million during the quarter, compared to analyst estimates of $17.27 million. The company's revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) EPS. As a group, research analysts expect that Luminar Technologies, Inc. will post -14.2 EPS 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.