SG Americas Securities LLC Raises Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

SG Americas Securities LLC lifted its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 5,037.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 576,547 shares of the company’s stock after buying an additional 565,324 shares during the quarter. SG Americas Securities LLC’s holdings in Luminar Technologies were worth $519,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Luminar Technologies by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock worth $86,627,000 after acquiring an additional 1,671,708 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Luminar Technologies in the first quarter valued at approximately $214,000. Leo Wealth LLC purchased a new position in Luminar Technologies in the fourth quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Luminar Technologies by 0.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock worth $3,675,000 after purchasing an additional 14,604 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Luminar Technologies by 30.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock worth $294,000 after buying an additional 34,566 shares during the last quarter. 30.99% of the stock is owned by hedge funds and other institutional investors.

Luminar Technologies Price Performance

NASDAQ:LAZR opened at $0.82 on Wednesday. The firm has a market cap of $366.39 million, a price-to-earnings ratio of -0.60 and a beta of 1.60. Luminar Technologies, Inc. has a 1-year low of $0.73 and a 1-year high of $4.29. The firm’s fifty day moving average price is $0.90 and its 200 day moving average price is $1.35.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $16.50 million for the quarter, compared to analyst estimates of $20.36 million. During the same quarter last year, the firm earned ($0.37) earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts expect that Luminar Technologies, Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $2.00 price target on shares of Luminar Technologies in a research note on Wednesday, October 2nd. The Goldman Sachs Group reduced their target price on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a report on Thursday, July 11th. Citigroup decreased their target price on Luminar Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Westpark Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Luminar Technologies in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.00 price objective on shares of Luminar Technologies in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.74.

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.