Wells Fargo & Company MN trimmed its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 94.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,974 shares of the company's stock after selling 618,283 shares during the period. Wells Fargo & Company MN owned about 0.10% of Luminar Technologies worth $188,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC grew its position in Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company's stock valued at $757,000 after purchasing an additional 694,315 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Luminar Technologies in the 4th quarter valued at about $97,000. SBI Securities Co. Ltd. bought a new position in shares of Luminar Technologies in the 4th quarter valued at about $155,000. Finally, DnB Asset Management AS bought a new position in shares of Luminar Technologies in the 4th quarter valued at about $91,000. 30.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Luminar Technologies has a consensus rating of "Hold" and a consensus target price of $53.86.
Read Our Latest Research Report on LAZR
Luminar Technologies Stock Performance
Shares of LAZR stock traded up $0.44 during midday trading on Monday, hitting $4.60. 2,723,575 shares of the company were exchanged, compared to its average volume of 1,949,990. The firm has a market capitalization of $194.99 million, a P/E ratio of -0.34 and a beta of 2.06. The firm's 50 day moving average price is $4.81 and its two-hundred day moving average price is $6.87. Luminar Technologies, Inc. has a 52 week low of $3.30 and a 52 week high of $32.70.
About Luminar Technologies
(
Free Report)
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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