Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC reduced its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,980 shares of the company's stock after selling 139,098 shares during the quarter. Malaga Cove Capital LLC's holdings in Luminar Technologies were worth $64,000 at the end of the most recent quarter.

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

Luminar Technologies Stock Performance

LAZR stock traded down $0.10 during trading on Tuesday, reaching $4.44. The company had a trading volume of 506,061 shares, compared to its average volume of 2,535,623. The company has a market cap of $188.21 million, a price-to-earnings ratio of -0.33 and a beta of 2.06. Luminar Technologies, Inc. has a twelve month low of $3.30 and a twelve month high of $32.70. The firm has a 50-day simple moving average of $4.76 and a 200-day simple moving average of $6.53.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.75) by $0.25. The company had revenue of $18.89 million during the quarter, compared to analysts' expectations of $16.27 million. The company's quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. Sell-side analysts expect that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $53.86.

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.