Luminar Technologies (NASDAQ:LAZR) Stock Unloaded Sen. Mitch McConnell

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

Shares of Luminar Technologies stock traded up $0.35 during trading on Thursday, hitting $3.26. 13,402,208 shares of the stock were exchanged, compared to its average volume of 2,388,819. The stock's fifty day moving average is $3.36 and its 200 day moving average is $4.76. The stock has a market cap of $152.83 million, a PE ratio of -0.50 and a beta of 1.94. Luminar Technologies, Inc. has a 12 month low of $2.52 and a 12 month high of $29.85.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($1.50) EPS for the quarter, beating 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. During the same period in the prior year, the company posted ($0.19) earnings per share. Luminar Technologies's quarterly revenue was down 10.0% compared to the same quarter last year. Sell-side analysts anticipate that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Luminar Technologies during the 1st quarter valued at $27,000. BNP Paribas Financial Markets purchased a new stake in Luminar Technologies during the 4th quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 8,666 shares during the period. CWM LLC lifted its holdings in Luminar Technologies by 1,194.5% in the 1st quarter. CWM LLC now owns 9,877 shares of the company's stock worth $53,000 after buying an additional 9,114 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Luminar Technologies in the 1st quarter worth approximately $90,000. Hedge funds and other institutional investors own 30.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group dropped their price target 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. reissued a "neutral" rating on shares of Luminar Technologies in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $53.86.

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

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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