Luminar Technologies Sees Unusually Large Options Volume (NASDAQ:LAZR)

Luminar Technologies, Inc. (NASDAQ:LAZR) was the recipient of unusually large options trading activity on Thursday. Traders acquired 63,317 call options on the company. This is an increase of 184% compared to the typical daily volume of 22,328 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Luminar Technologies during the third quarter worth approximately $56,000. Scientech Research LLC acquired a new position in Luminar Technologies in the third quarter valued at approximately $42,000. Integrated Wealth Concepts LLC bought a new position in shares of Luminar Technologies during the 3rd quarter worth approximately $118,000. Man Group plc bought a new position in shares of Luminar Technologies during the 3rd quarter worth approximately $58,000. Finally, Marathon Trading Investment Management LLC acquired a new stake in shares of Luminar Technologies during the 3rd quarter worth approximately $84,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Price Performance

Shares of LAZR traded up $0.01 during trading hours on Thursday, hitting $0.92. 6,433,990 shares of the stock were exchanged, compared to its average volume of 4,276,554. Luminar Technologies has a fifty-two week low of $0.81 and a fifty-two week high of $11.27. The business has a 50-day moving average of $1.81 and a 200-day moving average of $2.57. The firm has a market capitalization of $62.98 million, a P/E ratio of -0.19 and a beta of 2.03.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Thursday, November 13th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.08) by $0.14. The firm had revenue of $18.75 million during the quarter, compared to analyst estimates of $17.56 million. As a group, analysts forecast that Luminar Technologies will post -14.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LAZR shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Luminar Technologies in a report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Luminar Technologies in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Luminar Technologies currently has a consensus rating of “Strong Sell” and a consensus target price of $2.00.

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.