Luminar Technologies Target of Unusually Large Options Trading (NASDAQ:LAZR)

Key Points

• Luminar Technologies experienced a significant surge in options trading, with 36,900 call options purchased, marking an increase of approximately 442% from its average volume.
• The company's stock price rose to $2.09 during mid-day trading, despite a reported loss of ($1.49) earnings per share, which missed analysts' expectations.
• Institutional investors have shown increasing interest, with notable purchases resulting in over 30% of the company's stock now being held by these investors.

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) was the recipient of unusually large options trading on Monday. Stock investors purchased 36,900 call options on the stock. This is an increase of approximately 442% compared to the typical volume of 6,802 call options.

Luminar Technologies Price Performance

LAZR stock traded up $0.21 during mid-day trading on Monday, hitting $2.09. 6,599,078 shares of the stock were exchanged, compared to its average volume of 2,981,193. The business has a fifty day moving average price of $2.48 and a 200 day moving average price of $3.61. Luminar Technologies has a 12 month low of $1.58 and a 12 month high of $18.60. The stock has a market capitalization of $143.36 million, a price-to-earnings ratio of -0.74 and a beta of 1.95.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its 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 the consensus estimate of $17.27 million. During the same period in the previous year, the business posted ($0.18) earnings per share. The company's revenue was down 5.0% compared to the same quarter last year. Luminar Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Luminar Technologies will post -14.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Luminar Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in Luminar Technologies during the 1st quarter valued at about $27,000. Jump Financial LLC purchased a new position in Luminar Technologies during the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets purchased a new position in shares of Luminar Technologies during the 4th quarter worth approximately $40,000. GAMMA Investing LLC grew its holdings 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 worth $51,000 after acquiring an additional 8,666 shares during the period. Finally, CWM LLC grew its holdings in shares of Luminar Technologies by 1,194.5% during the 1st quarter. CWM LLC now owns 9,877 shares of the company's stock worth $53,000 after acquiring an additional 9,114 shares during the period. Institutional investors own 30.99% of the company's stock.

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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