Mirae Asset Global Investments Co. Ltd. Sells 352,262 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Mirae Asset Global Investments Co. Ltd. reduced its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 93.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,893 shares of the company's stock after selling 352,262 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Luminar Technologies worth $140,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. PEAK6 Investments LLC acquired a new stake in shares of Luminar Technologies during the third quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Luminar Technologies during the third quarter worth approximately $31,000. Tyler Stone Wealth Management boosted its holdings in shares of Luminar Technologies by 70.5% during the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company's stock worth $33,000 after purchasing an additional 15,300 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Luminar Technologies during the third quarter worth approximately $40,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings 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 worth $49,000 after purchasing an additional 12,685 shares during the period. 30.99% of the stock is owned by hedge funds and other institutional investors.

Luminar Technologies Stock Performance

Shares of Luminar Technologies stock traded down $0.15 on Monday, reaching $6.45. The stock had a trading volume of 2,184,072 shares, compared to its average volume of 1,975,541. The business's 50-day moving average price is $6.20 and its two-hundred day moving average price is $10.58. Luminar Technologies, Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $42.30. The stock has a market cap of $214.85 million, a P/E ratio of -0.48 and a beta of 1.62.

Analyst Ratings Changes

A number of analysts have issued reports on LAZR shares. The Goldman Sachs Group reduced their target price 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 reduced 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 note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.