Hsbc Holdings PLC Trims Stake in Luminar Technologies, Inc. (NASDAQ:LAZR)

Hsbc Holdings PLC decreased its stake in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 88.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,748 shares of the company's stock after selling 178,338 shares during the period. Hsbc Holdings PLC owned about 0.07% of Luminar Technologies worth $125,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Barclays PLC raised its stake in Luminar Technologies by 469.2% during the third quarter. Barclays PLC now owns 842,288 shares of the company's stock worth $757,000 after buying an additional 694,315 shares during the last quarter. Entropy Technologies LP bought a new stake in Luminar Technologies during the fourth quarter worth $97,000. SBI Securities Co. Ltd. bought a new stake in Luminar Technologies in the 4th quarter worth about $155,000. DnB Asset Management AS purchased a new stake in shares of Luminar Technologies during the 4th quarter valued at $91,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Luminar Technologies in the 4th quarter worth approximately $1,452,000. Institutional investors and hedge funds own 30.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LAZR. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Luminar Technologies in a research note on Thursday. The Goldman Sachs Group cut their price target on shares of Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Luminar Technologies currently has a consensus rating of "Hold" and an average target price of $53.86.

Luminar Technologies Stock Performance

Shares of Luminar Technologies stock traded up $0.36 during midday trading on Friday, reaching $4.32. 1,902,977 shares of the company's stock traded hands, compared to its average volume of 2,533,797. The company has a market cap of $182.91 million, a PE ratio of -0.32 and a beta of 2.06. The stock has a 50 day moving average of $4.77 and a 200-day moving average of $6.72. Luminar Technologies, Inc. has a 12 month low of $3.30 and a 12 month high of $32.70.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, topping analysts' consensus estimates of ($1.75) by $0.25. The firm had revenue of $18.89 million for the quarter, compared to analysts' expectations of $16.27 million. The firm's revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. On average, equities analysts anticipate that Luminar Technologies, Inc. will post -14.2 earnings per share 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.