Main Management ETF Advisors LLC Buys New Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Main Management ETF Advisors LLC acquired a new stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 507,504 shares of the company's stock, valued at approximately $457,000. Main Management ETF Advisors LLC owned approximately 0.10% of Luminar Technologies at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LAZR. XTX Topco Ltd boosted its holdings in shares of Luminar Technologies by 819.6% in the third quarter. XTX Topco Ltd now owns 649,175 shares of the company's stock valued at $584,000 after acquiring an additional 578,582 shares in the last quarter. State Street Corp grew its position in shares of Luminar Technologies by 2.7% during the third quarter. State Street Corp now owns 8,525,374 shares of the company's stock worth $7,670,000 after acquiring an additional 225,223 shares during the last quarter. Stifel Financial Corp lifted its stake in Luminar Technologies by 118.5% during the third quarter. Stifel Financial Corp now owns 141,005 shares of the company's stock valued at $127,000 after buying an additional 76,470 shares in the last quarter. Point72 DIFC Ltd bought a new position in Luminar Technologies during the third quarter valued at approximately $40,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Luminar Technologies during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 30.99% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on LAZR. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $30.00 target price on shares of Luminar Technologies in a research report on Wednesday, October 2nd. The Goldman Sachs Group cut their price objective on Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a report on Thursday, November 14th. JPMorgan Chase & Co. dropped their price target on Luminar Technologies from $120.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, August 19th. Citigroup lowered their price objective on Luminar Technologies from $135.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. Finally, Craig Hallum reduced their price objective on Luminar Technologies from $22.50 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Luminar Technologies presently has an average rating of "Hold" and a consensus target price of $50.06.

Luminar Technologies Stock Up 3.7 %

Shares of LAZR stock traded up $0.28 during mid-day trading on Friday, hitting $7.81. 2,327,162 shares of the stock were exchanged, compared to its average volume of 2,602,726. The firm has a fifty day moving average of $12.02 and a 200 day moving average of $16.91. Luminar Technologies, Inc. has a 52-week low of $7.44 and a 52-week high of $55.35. The company has a market cap of $260.15 million, a PE ratio of -0.59 and a beta of 1.53.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, topping the consensus estimate of ($3.30) by $0.90. The company had revenue of $15.49 million for the quarter, compared to analyst estimates of $17.70 million. The company's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.95) earnings per share. Equities analysts predict that Luminar Technologies, Inc. will post -14.2 EPS for the current year.

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.