Traders Purchase High Volume of Luminar Technologies Call Options (NASDAQ:LAZR)

Key Points

• Traders have shown significant interest in Luminar Technologies by purchasing 28,072 call options, marking an increase of approximately 149% from the average volume.
• On the same day, Luminar's stock price rose by 6.5% to reach $2.04, despite the company reporting a larger-than-expected earnings loss of ($1.49) per share.
• Institutional investors are actively trading Luminar Technologies shares, with several firms increasing their stakes dramatically, including GAMMA Investing LLC and CWM LLC which grew their positions by over 1,000% in the first quarter.

Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders purchased 28,072 call options on the stock. This represents an increase of approximately 149% compared to the average volume of 11,259 call options.

Luminar Technologies Stock Up 6.5%

Shares of LAZR stock traded up $0.13 on Wednesday, reaching $2.04. The company's stock had a trading volume of 1,998,792 shares, compared to its average volume of 3,143,771. Luminar Technologies has a 12-month low of $1.58 and a 12-month high of $18.60. The company has a market capitalization of $139.93 million, a P/E ratio of -0.73 and a beta of 1.95. The stock's 50 day simple moving average is $2.28 and its 200-day simple moving average is $3.39.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.30). The company had revenue of $15.63 million during the quarter, compared to the consensus estimate of $17.27 million. During the same quarter in the previous year, the business earned ($0.18) EPS. The business's quarterly revenue was down 5.0% compared to the same quarter last year. Luminar Technologies has set its FY 2025 guidance at EPS. Research analysts expect that Luminar Technologies will post -14.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Luminar Technologies during the first quarter valued at about $27,000. Jump Financial LLC bought a new position in shares of Luminar Technologies during the second quarter valued at about $32,000. BNP Paribas Financial Markets bought a new position in shares of Luminar Technologies during the fourth quarter valued at about $40,000. GAMMA Investing LLC grew its stake in shares of Luminar Technologies by 1,077.9% during the first quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock valued at $51,000 after buying an additional 8,666 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Luminar Technologies by 1,194.5% during the first quarter. CWM LLC now owns 9,877 shares of the company's stock valued at $53,000 after buying an additional 9,114 shares during the last quarter. Institutional investors own 30.99% of the company's stock.

Luminar Technologies Company 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.

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