Barclays PLC Acquires 694,315 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Barclays PLC increased its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 469.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 842,288 shares of the company’s stock after purchasing an additional 694,315 shares during the quarter. Barclays PLC’s holdings in Luminar Technologies were worth $757,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LAZR. PEAK6 Investments LLC acquired a new stake in Luminar Technologies during the 3rd quarter worth $25,000. Invst LLC acquired a new stake in shares of Luminar Technologies during the second quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Luminar Technologies in the third quarter valued at about $31,000. Tyler Stone Wealth Management lifted its stake in Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after buying an additional 15,300 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Luminar Technologies during the third quarter worth about $40,000. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Stock Up 25.5 %

Shares of NASDAQ:LAZR opened at $7.47 on Thursday. The firm has a market cap of $248.85 million, a price-to-earnings ratio of -0.56 and a beta of 1.60. Luminar Technologies, Inc. has a 12 month low of $4.93 and a 12 month high of $45.68. The company’s fifty day simple moving average is $8.68 and its 200 day simple moving average is $13.80.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group lowered their price target on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Craig Hallum cut their target price on shares of Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd. Two equities 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. Based on data from MarketBeat.com, the stock has a consensus 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.