State Street Corp Purchases 225,223 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

State Street Corp boosted its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,525,374 shares of the company's stock after acquiring an additional 225,223 shares during the quarter. State Street Corp owned 1.73% of Luminar Technologies worth $7,670,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PEAK6 Investments LLC purchased a new stake in shares of Luminar Technologies during the 3rd quarter valued at $25,000. Invst LLC purchased a new position in Luminar Technologies in the second quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Luminar Technologies during the 3rd quarter valued at approximately $31,000. Tyler Stone Wealth Management increased its position in Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company's stock worth $33,000 after buying an additional 15,300 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Luminar Technologies in the third quarter valued at $40,000. Institutional investors own 30.99% of the company's stock.

Luminar Technologies Stock Up 6.6 %

Shares of LAZR stock traded up $0.36 on Friday, reaching $5.84. The company's stock had a trading volume of 6,779,677 shares, compared to its average volume of 1,238,324. The company has a market capitalization of $194.55 million, a P/E ratio of -0.44 and a beta of 1.53. Luminar Technologies, Inc. has a 12-month low of $4.93 and a 12-month high of $55.27. The stock's 50 day simple moving average is $10.02 and its 200-day simple moving average is $15.10.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.40) earnings per share for the quarter, beating the consensus estimate of ($3.30) by $0.90. The business had revenue of $15.49 million during the quarter, compared to analysts' expectations of $17.70 million. The business's revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the business earned ($4.95) EPS. Research analysts expect that Luminar Technologies, Inc. will post -14.2 EPS for the current year.

Analysts Set New Price Targets

LAZR has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $15.00 price objective on shares of Luminar Technologies in a report on Tuesday, September 10th. Craig Hallum lowered 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 report on Tuesday, November 12th. The Goldman Sachs Group cut their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a 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 research 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.com, Luminar Technologies currently has a consensus rating of "Hold" and a consensus 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.