Point72 Asia Singapore Pte. Ltd. Acquires Shares of 34,970 Luminar Technologies, Inc. (NASDAQ:LAZR)

Point72 Asia Singapore Pte. Ltd. bought a new position in Luminar Technologies, Inc. (NASDAQ:LAZR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 34,970 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors have also made changes to their positions in LAZR. Optas LLC bought a new position in Luminar Technologies during the second quarter worth $26,000. Invst LLC acquired a new stake in shares of Luminar Technologies during the second quarter worth $28,000. 180 Wealth Advisors LLC lifted its position in shares of Luminar Technologies by 27.0% in the 2nd quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock worth $39,000 after buying an additional 5,592 shares during the last quarter. PEAK6 Investments LLC acquired a new position in shares of Luminar Technologies in the 3rd quarter valued at about $25,000. Finally, Algert Global LLC bought a new stake in shares of Luminar Technologies during the 2nd quarter valued at about $42,000. 30.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LAZR shares. Citigroup cut their target price on shares of Luminar Technologies from $135.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. cut their price target on Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Craig Hallum reduced their price objective on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their target price on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 target price on shares of Luminar Technologies in a research note on Tuesday, September 10th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.06.

Luminar Technologies Price Performance

LAZR opened at $7.81 on Friday. Luminar Technologies, Inc. has a 12 month low of $7.44 and a 12 month high of $55.35. The stock’s 50 day moving average price is $12.02 and its 200 day moving average price is $16.95. The stock has a market cap of $260.15 million, a P/E ratio of -0.59 and a beta of 1.53.

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 business had revenue of $15.49 million for the quarter, compared to analyst estimates of $17.70 million. Luminar Technologies’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the business posted ($4.95) earnings per share. Equities analysts anticipate that Luminar Technologies, Inc. will post -14.2 EPS for the current year.

Luminar Technologies Company 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.