Sequoia Financial Advisors LLC Makes New Investment in Luminar Technologies, Inc. (NASDAQ:LAZR)

Sequoia Financial Advisors LLC acquired a new position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 156,356 shares of the company’s stock, valued at approximately $141,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Howard Financial Services LTD. grew its position in Luminar Technologies by 24.0% during the 3rd quarter. Howard Financial Services LTD. now owns 72,425 shares of the company’s stock worth $65,000 after purchasing an additional 14,000 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Luminar Technologies by 5,037.2% in the 3rd quarter. SG Americas Securities LLC now owns 576,547 shares of the company’s stock worth $519,000 after acquiring an additional 565,324 shares during the period. Invst LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter worth $28,000. Algert Global LLC acquired a new stake in shares of Luminar Technologies in the 2nd quarter worth $42,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Luminar Technologies by 24.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,015 shares of the company’s stock worth $195,000 after acquiring an additional 25,939 shares during the period. 30.99% of the stock is owned by hedge funds and other institutional investors.

Luminar Technologies Trading Down 4.7 %

NASDAQ:LAZR opened at $0.89 on Wednesday. The firm has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $1.28. Luminar Technologies, Inc. has a twelve month low of $0.73 and a twelve month high of $3.99. The company has a market capitalization of $439.94 million, a P/E ratio of -0.69 and a beta of 1.60.

Luminar Technologies (NASDAQ:LAZR) last posted its earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. The business had revenue of $16.50 million for the quarter, compared to analysts’ expectations of $20.36 million. During the same quarter last year, the business posted ($0.37) earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that Luminar Technologies, Inc. will post -0.97 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.00 target price on shares of Luminar Technologies in a research note on Tuesday, September 10th. Citigroup reduced their target price on shares of Luminar Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Rosenblatt Securities reiterated a “neutral” rating and issued a $2.00 price objective on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Finally, Westpark Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.74.

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.