Charles Schwab Investment Management Inc. Buys 425,335 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Charles Schwab Investment Management Inc. increased its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,991,409 shares of the company’s stock after purchasing an additional 425,335 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Luminar Technologies were worth $2,691,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. PFG Investments LLC increased its position in shares of Luminar Technologies by 13.9% during the 2nd quarter. PFG Investments LLC now owns 81,894 shares of the company’s stock valued at $122,000 after purchasing an additional 10,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Luminar Technologies by 30.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company’s stock valued at $49,000 after purchasing an additional 12,685 shares during the last quarter. Howard Financial Services LTD. boosted its holdings in Luminar Technologies by 24.0% during the 3rd quarter. Howard Financial Services LTD. now owns 72,425 shares of the company’s stock valued at $65,000 after acquiring an additional 14,000 shares during the period. Malaga Cove Capital LLC boosted its holdings in Luminar Technologies by 10.6% during the 2nd quarter. Malaga Cove Capital LLC now owns 148,584 shares of the company’s stock valued at $221,000 after acquiring an additional 14,300 shares during the period. Finally, Fore Capital LLC boosted its holdings in Luminar Technologies by 50.0% during the 2nd quarter. Fore Capital LLC now owns 45,000 shares of the company’s stock valued at $67,000 after acquiring an additional 15,000 shares during the period. Institutional investors own 30.99% of the company’s stock.

Luminar Technologies Price Performance

NASDAQ LAZR opened at $6.42 on Monday. The company has a market cap of $213.87 million, a PE ratio of -0.48 and a beta of 1.53. The stock’s 50 day simple moving average is $11.47 and its 200-day simple moving average is $16.27. Luminar Technologies, Inc. has a 1-year low of $6.34 and a 1-year high of $55.35.

Luminar Technologies (NASDAQ:LAZR) last released its 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 firm had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same quarter last year, the business earned ($4.95) EPS. The business’s revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LAZR shares. Craig Hallum dropped their price objective on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Rosenblatt Securities restated a “neutral” rating and set a $30.00 price objective on shares of Luminar Technologies in a report on Wednesday, October 2nd. The Goldman Sachs Group dropped their price objective on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 price objective on shares of Luminar Technologies in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Luminar Technologies currently has an average rating of “Hold” and an average price target 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.