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Sen. Mitch McConnell Sells Off Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Luminar Technologies logo with Auto/Tires/Trucks background

Senator Mitch McConnell (R-Kentucky) recently sold shares of Luminar Technologies, Inc. NASDAQ: LAZR. In a filing disclosed on July 07th, the Senator disclosed that they had sold between $15,001 and $50,000 in Luminar Technologies stock on June 26th.

Senator Mitch McConnell also recently made the following trade(s):

  • Purchased $1,001 - $15,000 in shares of Wells Fargo & Company NYSE: WFC on 6/1/2025.

Luminar Technologies Stock Performance

NASDAQ LAZR traded down $0.05 during trading on Monday, hitting $3.05. The stock had a trading volume of 3,675,229 shares, compared to its average volume of 2,425,276. Luminar Technologies, Inc. has a 12 month low of $2.52 and a 12 month high of $27.30. The company's 50-day moving average price is $3.33 and its two-hundred day moving average price is $4.71. The company has a market capitalization of $142.98 million, a PE ratio of -0.47 and a beta of 1.94.

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, beating analysts' consensus estimates of ($1.75) by $0.25. The company had revenue of $18.89 million during the quarter, compared to the consensus estimate of $16.27 million. The firm's revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) EPS. As a group, equities analysts anticipate that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Luminar Technologies in a research note on Thursday, May 15th. The Goldman Sachs Group dropped 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $53.86.

View Our Latest Stock Report on LAZR

Institutional Investors Weigh In On Luminar Technologies

A number of institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in Luminar Technologies in the first quarter valued at $27,000. Rhumbline Advisers raised its position in shares of Luminar Technologies by 19.2% during the 1st quarter. Rhumbline Advisers now owns 36,024 shares of the company's stock worth $194,000 after purchasing an additional 5,810 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in Luminar Technologies by 22.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 35,298 shares of the company's stock worth $190,000 after acquiring an additional 6,470 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Luminar Technologies during the 4th quarter valued at $40,000. Finally, GAMMA Investing LLC grew its stake in shares of Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock valued at $51,000 after buying an additional 8,666 shares during the period. 30.99% of the stock is currently owned by institutional investors and hedge funds.

About Senator McConnell

Mitch McConnell (Republican Party) is a member of the U.S. Senate from Kentucky. He assumed office on January 3, 1985. His current term ends on January 3, 2027. McConnell (Republican Party) ran for re-election to the U.S. Senate to represent Kentucky. He won in the general election on November 3, 2020. McConnell is the Senate minority leader in the 118th Congress. He became the minority leader when the Democratic Party gained a majority in the Senate in January 2021.McConnell previously served as Senate majority leader from 2015 to 2021. He was unanimously elected as majority leader by Republicans following the 2014 elections. Before that, he served as Senate minority leader from 2007 to 2015. As Senate majority leader, McConnell set records for the number of judicial nominees confirmed during the first two years of a presidency. As of July 2019, the Senate had confirmed two Supreme Court justices, 41 circuit court appeals judges, and 80 district court judges during President Donald Trump's presidency. “To put that in context, that’s about one in five of the Courts of Appeals judges nationwide have now been appointed by this president and confirmed by this Senate in two and a half years. And I want you to know that my view is, there will be no vacancies left behind. None,” McConnell said in June 2019. McConnell previously worked as the Deputy U.S. Attorney for Legislative Affairs from 1974 to 1975 and as a judge-executive of Jefferson County, KY, from 1979 to 1985.

About Luminar Technologies

(Get Free Report)

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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