Barclays PLC Increases Stake in Luminar Technologies, Inc. (NASDAQ:LAZR)

Barclays PLC boosted its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 469.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 842,288 shares of the company's stock after purchasing an additional 694,315 shares during the quarter. Barclays PLC owned approximately 2.53% of Luminar Technologies worth $757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Luminar Technologies by 17.9% in the third quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company's stock valued at $7,896,000 after acquiring an additional 1,331,067 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Luminar Technologies by 819.6% in the 3rd quarter. XTX Topco Ltd now owns 649,175 shares of the company's stock valued at $584,000 after purchasing an additional 578,582 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Luminar Technologies by 5,037.2% during the 3rd quarter. SG Americas Securities LLC now owns 576,547 shares of the company's stock worth $519,000 after purchasing an additional 565,324 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Luminar Technologies during the third quarter worth $457,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Luminar Technologies by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company's stock valued at $2,691,000 after buying an additional 425,335 shares during the last quarter. Hedge funds and other institutional investors own 30.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a "neutral" rating and set a $30.00 price objective on shares of Luminar Technologies in a research report on Wednesday, October 2nd. Craig Hallum dropped their price target on shares of Luminar Technologies from $22.50 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group reduced their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a research report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Luminar Technologies has an average rating of "Hold" and an average target price of $50.06.

Luminar Technologies Price Performance

Shares of LAZR traded down $0.57 during mid-day trading on Thursday, reaching $6.90. 1,869,253 shares of the company's stock were exchanged, compared to its average volume of 4,342,063. The business's fifty day simple moving average is $8.55 and its 200-day simple moving average is $13.76. Luminar Technologies, Inc. has a 52-week low of $4.93 and a 52-week high of $45.68. The stock has a market capitalization of $229.84 million, a PE ratio of -0.52 and a beta of 1.60.

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

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.