Main Management ETF Advisors LLC Has $167,000 Stock Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Main Management ETF Advisors LLC reduced its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 93.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,086 shares of the company's stock after selling 476,418 shares during the period. Main Management ETF Advisors LLC owned approximately 0.09% of Luminar Technologies worth $167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Luminar Technologies in the fourth quarter valued at approximately $40,000. DnB Asset Management AS bought a new stake in shares of Luminar Technologies in the 4th quarter valued at $91,000. Entropy Technologies LP acquired a new stake in Luminar Technologies during the 4th quarter worth $97,000. SBI Securities Co. Ltd. acquired a new stake in Luminar Technologies during the 4th quarter worth $155,000. Finally, Brevan Howard Capital Management LP lifted its holdings in Luminar Technologies by 199.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company's stock worth $173,000 after acquiring an additional 21,416 shares in the last quarter. 30.99% of the stock is owned by institutional investors.

Luminar Technologies Trading Down 2.2%

Shares of LAZR stock traded down $0.10 on Tuesday, hitting $4.44. 506,061 shares of the stock were exchanged, compared to its average volume of 2,535,623. The firm has a market capitalization of $188.21 million, a P/E ratio of -0.33 and a beta of 2.06. Luminar Technologies, Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $32.70. The business has a 50-day moving average of $4.76 and a 200 day moving average of $6.53.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($1.50) EPS for the quarter, beating the consensus estimate of ($1.75) by $0.25. The firm had revenue of $18.89 million during the quarter, compared to the consensus estimate of $16.27 million. The company's revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) EPS. As a group, research analysts forecast that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group lowered their target price on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $53.86.

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.