Virtu Financial LLC Invests $316,000 in Luminar Technologies, Inc. (NASDAQ:LAZR)

Virtu Financial LLC purchased a new position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 351,050 shares of the company's stock, valued at approximately $316,000. Virtu Financial LLC owned approximately 0.07% of Luminar Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LAZR. Optas LLC acquired a new stake in Luminar Technologies during the 2nd quarter worth approximately $26,000. Invst LLC acquired a new position in shares of Luminar Technologies during the second quarter worth $28,000. PEAK6 Investments LLC acquired a new position in shares of Luminar Technologies during the third quarter worth $25,000. Algert Global LLC bought a new stake in shares of Luminar Technologies in the second quarter worth $42,000. Finally, Sei Investments Co. increased its holdings in Luminar Technologies by 163.0% in the second quarter. Sei Investments Co. now owns 32,887 shares of the company's stock valued at $49,000 after purchasing an additional 20,383 shares during the period. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Stock Performance

Shares of LAZR stock traded up $0.13 during trading hours on Tuesday, hitting $6.20. 3,573,454 shares of the company were exchanged, compared to its average volume of 1,189,130. The company has a 50 day simple moving average of $11.20 and a two-hundred day simple moving average of $16.00. The firm has a market cap of $206.54 million, a P/E ratio of -0.46 and a beta of 1.53. Luminar Technologies, Inc. has a fifty-two week low of $5.58 and a fifty-two week high of $55.35.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, topping analysts' consensus estimates of ($3.30) by $0.90. The company had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. The company'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 business posted ($4.95) earnings per share. As a group, sell-side analysts expect that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Rosenblatt Securities reaffirmed a "neutral" rating and set a $30.00 target price on shares of Luminar Technologies in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on Luminar Technologies from $120.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, August 19th. Craig Hallum decreased 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $15.00 price target on shares of Luminar Technologies in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a research report on Thursday, November 14th. Two 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 stock. Based on data from MarketBeat.com, Luminar Technologies has a consensus rating of "Hold" and a consensus target price of $50.06.

About Luminar Technologies

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.