LRI Investments LLC Grows Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

LRI Investments LLC lifted its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 32,352.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162,264 shares of the company's stock after buying an additional 161,764 shares during the quarter. LRI Investments LLC's holdings in Luminar Technologies were worth $146,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LAZR. Main Management ETF Advisors LLC acquired a new stake in Luminar Technologies in the third quarter valued at $457,000. XTX Topco Ltd raised its position in shares of Luminar Technologies by 819.6% during the 3rd quarter. XTX Topco Ltd now owns 649,175 shares of the company's stock worth $584,000 after acquiring an additional 578,582 shares in the last quarter. State Street Corp lifted its stake in 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 purchasing an additional 225,223 shares during the last quarter. Stifel Financial Corp boosted its holdings in Luminar Technologies by 118.5% in the third quarter. Stifel Financial Corp now owns 141,005 shares of the company's stock valued at $127,000 after purchasing an additional 76,470 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Luminar Technologies during the third quarter worth approximately $40,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Luminar Technologies Stock Performance

LAZR traded down $0.15 during trading on Wednesday, hitting $7.49. The stock had a trading volume of 1,096,945 shares, compared to its average volume of 1,162,550. The firm has a market capitalization of $249.51 million, a P/E ratio of -0.57 and a beta of 1.53. Luminar Technologies, Inc. has a twelve month low of $7.02 and a twelve month high of $55.35. The company's 50-day moving average price is $11.82 and its 200 day moving average price is $16.64.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping 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. During the same period in the prior year, the company earned ($4.95) earnings per share. The company's revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities analysts expect that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal 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.