Charles Schwab Investment Management Inc. Grows Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Charles Schwab Investment Management Inc. raised its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 16.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,991,409 shares of the company's stock after acquiring an additional 425,335 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.61% of Luminar Technologies worth $2,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PFG Investments LLC increased its holdings in Luminar Technologies by 13.9% during the 2nd quarter. PFG Investments LLC now owns 81,894 shares of the company's stock valued at $122,000 after purchasing an additional 10,000 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Luminar Technologies by 30.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company's stock valued at $49,000 after buying an additional 12,685 shares during the period. Howard Financial Services LTD. raised its holdings in shares of Luminar Technologies by 24.0% during the third quarter. Howard Financial Services LTD. now owns 72,425 shares of the company's stock valued at $65,000 after acquiring an additional 14,000 shares in the last quarter. Malaga Cove Capital LLC lifted its stake in Luminar Technologies by 10.6% in the second quarter. Malaga Cove Capital LLC now owns 148,584 shares of the company's stock worth $221,000 after acquiring an additional 14,300 shares during the period. Finally, Fore Capital LLC boosted its holdings in Luminar Technologies by 50.0% in the second quarter. Fore Capital LLC now owns 45,000 shares of the company's stock valued at $67,000 after acquiring an additional 15,000 shares in the last quarter. 30.99% of the stock is owned by institutional investors.

Luminar Technologies Stock Down 5.5 %

Shares of NASDAQ LAZR traded down $0.35 during trading on Monday, reaching $6.07. The company had a trading volume of 2,754,673 shares, compared to its average volume of 1,179,203. The business's 50-day moving average is $11.47 and its 200 day moving average is $16.27. The stock has a market cap of $202.21 million, a PE ratio of -0.48 and a beta of 1.53. Luminar Technologies, Inc. has a 12-month low of $6.03 and a 12-month high of $55.35.

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

Analyst Upgrades and Downgrades

LAZR has been the topic of several research analyst reports. Rosenblatt Securities reiterated a "neutral" rating and set a $30.00 price target on shares of Luminar Technologies in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on Luminar Technologies from $120.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, August 19th. The Goldman Sachs Group lowered their target price on Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a research note on Thursday, November 14th. Craig Hallum reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $15.00 price objective on shares of Luminar Technologies in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Luminar Technologies presently has a consensus rating of "Hold" and a consensus price target of $50.06.

Luminar Technologies 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.