Stifel Financial Corp Acquires 76,470 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Stifel Financial Corp raised its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR) by 118.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 141,005 shares of the company’s stock after acquiring an additional 76,470 shares during the period. Stifel Financial Corp’s holdings in Luminar Technologies were worth $127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in shares of Luminar Technologies in the third quarter worth $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Luminar Technologies in the 3rd quarter worth $31,000. PEAK6 Investments LLC acquired a new position in shares of Luminar Technologies during the third quarter valued at about $25,000. Caz Investments LP lifted its stake in shares of Luminar Technologies by 100.0% in the third quarter. Caz Investments LP now owns 300,000 shares of the company’s stock valued at $270,000 after buying an additional 150,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Luminar Technologies by 16.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock worth $2,691,000 after buying an additional 425,335 shares in the last quarter. 30.99% of the stock is owned by institutional investors.

Luminar Technologies Stock Performance

Shares of NASDAQ LAZR opened at $5.46 on Tuesday. Luminar Technologies, Inc. has a 52-week low of $4.93 and a 52-week high of $53.48. The business has a fifty day moving average of $10.02 and a two-hundred day moving average of $15.06. The stock has a market cap of $181.89 million, a PE ratio of -0.41 and a beta of 1.53.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.30) by $0.90. The firm had revenue of $15.49 million for the quarter, compared to the consensus estimate of $17.70 million. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the business earned ($4.95) earnings per share. Analysts predict that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LAZR shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd. Craig Hallum cut their target price on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 price target on shares of Luminar Technologies in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group reduced 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. 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.