Daiwa Securities Group Inc. Raises Stock Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Daiwa Securities Group Inc. lifted its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 54.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,772 shares of the company’s stock after buying an additional 16,116 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Luminar Technologies were worth $68,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Luminar Technologies by 27.9% during the 4th quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock worth $117,000 after buying an additional 7,564 shares during the last quarter. Vanguard Group Inc. raised its position in Luminar Technologies by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 25,705,363 shares of the company’s stock valued at $86,627,000 after purchasing an additional 1,671,708 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Luminar Technologies by 48.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock valued at $2,407,000 after purchasing an additional 232,024 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Luminar Technologies in the 1st quarter valued at $214,000. Finally, Leo Wealth LLC purchased a new stake in Luminar Technologies in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Wall Street Analysts Forecast Growth

LAZR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.00 price objective on shares of Luminar Technologies in a research note on Tuesday, September 10th. Westpark Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. The Goldman Sachs Group dropped their price objective on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a research note on Thursday, July 11th. Citigroup dropped their price objective on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Rosenblatt Securities dropped their price objective on shares of Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Luminar Technologies presently has an average rating of “Hold” and an average target price of $3.74.

Luminar Technologies Trading Down 12.8 %

LAZR stock opened at $0.81 on Wednesday. Luminar Technologies, Inc. has a twelve month low of $0.73 and a twelve month high of $5.20. The company has a market capitalization of $360.51 million, a P/E ratio of -0.59 and a beta of 1.61. The firm has a 50 day simple moving average of $1.24 and a 200-day simple moving average of $1.50.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The firm had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.37) earnings per share. On average, research analysts predict that Luminar Technologies, Inc. will post -1 EPS 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.