Stock Traders Buy Large Volume of Call Options on Luminar Technologies (NASDAQ:LAZR)

Luminar Technologies, Inc. (NASDAQ:LAZR) saw unusually large options trading on Monday. Traders bought 7,165 call options on the company. This represents an increase of 8% compared to the average volume of 6,647 call options.

Luminar Technologies Stock Up 27.1 %

Shares of LAZR stock opened at $6.42 on Tuesday. The stock has a market cap of $213.87 million, a P/E ratio of -0.48 and a beta of 1.74. Luminar Technologies has a fifty-two week low of $4.48 and a fifty-two week high of $34.80. The business has a fifty day simple moving average of $5.95 and a 200-day simple moving average of $9.16.

Hedge Funds Weigh In On Luminar Technologies

Hedge funds have recently added to or reduced their stakes in the business. PEAK6 Investments LLC purchased a new stake in shares of Luminar Technologies in the third quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Luminar Technologies in the 3rd quarter valued at approximately $31,000. Point72 DIFC Ltd acquired a new stake in Luminar Technologies during the 3rd quarter valued at $40,000. BNP Paribas Financial Markets purchased a new position in Luminar Technologies during the fourth quarter worth $40,000. Finally, DnB Asset Management AS acquired a new position in shares of Luminar Technologies in the fourth quarter worth $91,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

About Luminar Technologies

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.