SG Americas Securities LLC Lowers Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

SG Americas Securities LLC cut its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 93.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,410 shares of the company's stock after selling 541,137 shares during the period. SG Americas Securities LLC owned approximately 0.11% of Luminar Technologies worth $191,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Luminar Technologies in the third quarter worth approximately $316,000. Barclays PLC grew its stake in shares of Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company's stock worth $757,000 after acquiring an additional 694,315 shares during the period. Geode Capital Management LLC grew its stake in shares of Luminar Technologies by 17.9% in the third quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company's stock worth $7,896,000 after acquiring an additional 1,331,067 shares during the period. LRI Investments LLC grew its stake in shares of Luminar Technologies by 32,352.8% in the third quarter. LRI Investments LLC now owns 162,264 shares of the company's stock worth $146,000 after acquiring an additional 161,764 shares during the period. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Luminar Technologies in the third quarter worth approximately $457,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of 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 cut their target price on shares of Luminar Technologies from $22.50 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Luminar Technologies presently has an average rating of "Hold" and an average price target of $50.06.

Luminar Technologies Trading Down 2.0 %

NASDAQ LAZR traded down $0.11 during trading hours on Wednesday, hitting $5.49. 1,097,530 shares of the company's stock traded hands, compared to its average volume of 2,641,649. The firm has a market capitalization of $182.87 million, a P/E ratio of -0.41 and a beta of 1.62. Luminar Technologies, Inc. has a 52 week low of $4.93 and a 52 week high of $42.30. The business's fifty day moving average price is $6.33 and its two-hundred day moving average price is $11.08.

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 for the quarter, topping analysts' consensus estimates of ($3.30) by $0.90. The firm had revenue of $15.49 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned ($4.95) earnings per share. On average, sell-side analysts expect that Luminar Technologies, Inc. will post -14.2 EPS 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.