Stock Traders Buy Large Volume of Luminar Technologies Call Options (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 some unusual options trading activity on Monday. Investors purchased 36,900 call options on the stock. This is an increase of approximately 442% compared to the typical daily volume of 6,802 call options.

Luminar Technologies Trading Down 1.3%

NASDAQ LAZR traded down $0.03 on Friday, reaching $2.28. The company's stock had a trading volume of 5,595,904 shares, compared to its average volume of 3,120,725. The firm has a market cap of $156.78 million, a PE ratio of -0.81 and a beta of 1.95. The business has a 50-day moving average price of $2.43 and a 200 day moving average price of $3.56. Luminar Technologies has a 52 week low of $1.58 and a 52 week high of $18.60.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the company posted ($0.18) EPS. The company's revenue for the quarter was down 5.0% on a year-over-year basis. Luminar Technologies has set its FY 2025 guidance at EPS. Analysts anticipate that Luminar Technologies will post -14.2 earnings per share for the current fiscal year.

Institutional Trading of Luminar Technologies

A number of large investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of Luminar Technologies in the 1st quarter worth about $27,000. Rhumbline Advisers grew its holdings in shares of Luminar Technologies by 19.2% in 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% during the first quarter. SBI Securities Co. Ltd. now owns 35,298 shares of the company's stock worth $190,000 after buying an additional 6,470 shares during the last quarter. Summit X LLC grew its stake in Luminar Technologies by 9.2% during the second quarter. Summit X LLC now owns 80,216 shares of the company's stock worth $230,000 after buying an additional 6,729 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Luminar Technologies by 45.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,979 shares of the company's stock worth $63,000 after buying an additional 6,820 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors.

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.