Global Assets Advisory LLC Boosts Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Global Assets Advisory LLC grew its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 110.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,000 shares of the company’s stock after buying an additional 22,000 shares during the period. Global Assets Advisory LLC’s holdings in Luminar Technologies were worth $83,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vahanian & Associates Financial Planning Inc. purchased a new position in shares of Luminar Technologies in the 4th quarter worth about $41,000. Leo Wealth LLC purchased a new position in shares of Luminar Technologies in the 4th quarter valued at $43,000. Brave Asset Management Inc. acquired a new position in shares of Luminar Technologies during the 4th quarter valued at $49,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Luminar Technologies during the 4th quarter worth $55,000. Finally, Quadrature Capital Ltd acquired a new stake in Luminar Technologies in the 4th quarter valued at $67,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LAZR shares. Citigroup decreased their target price on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. The Goldman Sachs Group reduced their target price on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a research report on Thursday, February 29th. Finally, Bank of America reaffirmed an “underperform” rating and set a $1.20 price target (down previously from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.45.

Luminar Technologies Price Performance

Luminar Technologies stock opened at $1.63 on Friday. Luminar Technologies, Inc. has a 12 month low of $1.21 and a 12 month high of $8.32. The company has a fifty day moving average price of $1.55 and a two-hundred day moving average price of $2.14. The company has a market cap of $726.37 million, a PE ratio of -1.19 and a beta of 1.62.

Luminar Technologies (NASDAQ:LAZR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, meeting the consensus estimate of ($0.30). The business had revenue of $20.97 million during the quarter, compared to analyst estimates of $22.09 million. Equities research analysts anticipate that Luminar Technologies, Inc. will post -1 earnings per share for the current year.

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.