Daiwa Securities Group Inc. Purchases 18,980 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Daiwa Securities Group Inc. boosted its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 150.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,593 shares of the company’s stock after purchasing an additional 18,980 shares during the period. Daiwa Securities Group Inc.’s holdings in Luminar Technologies were worth $106,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Luminar Technologies by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,033,655 shares of the company’s stock worth $109,353,000 after buying an additional 543,313 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Luminar Technologies by 100.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company’s stock worth $17,225,000 after acquiring an additional 2,561,252 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Luminar Technologies by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,030,290 shares of the company’s stock valued at $9,238,000 after purchasing an additional 126,075 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Luminar Technologies by 4.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,850,974 shares of the company’s stock valued at $6,238,000 after purchasing an additional 86,766 shares during the last quarter. Finally, Raymond James & Associates increased its position in Luminar Technologies by 39.3% during the 4th quarter. Raymond James & Associates now owns 994,903 shares of the company’s stock worth $3,353,000 after purchasing an additional 280,775 shares in the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Price Performance

Luminar Technologies stock opened at $1.44 on Friday. The stock’s 50 day moving average is $1.87 and its 200 day moving average is $2.62. Luminar Technologies, Inc. has a one year low of $1.21 and a one year high of $8.32. The firm has a market cap of $607.52 million, a P/E ratio of -0.98 and a beta of 1.48.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $22.11 million for the quarter, compared to analysts’ expectations of $27.25 million. Equities analysts anticipate that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LAZR shares. Rosenblatt Securities decreased their target price on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. restated an “overweight” rating and set a $8.00 price objective (down previously from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. The Goldman Sachs Group reduced their price target on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a report on Thursday, February 29th. Finally, Bank of America reiterated an “underperform” rating and issued a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.39.

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.