Headlands Technologies LLC Buys New Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Headlands Technologies LLC purchased a new position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) during the second quarter, Holdings Channel.com reports. The fund purchased 37,168 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds have also made changes to their positions in the business. 180 Wealth Advisors LLC increased its stake in Luminar Technologies by 27.0% during 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 period. ProShare Advisors LLC increased its position in shares of Luminar Technologies by 16.0% during the first quarter. ProShare Advisors LLC now owns 52,321 shares of the company’s stock worth $103,000 after acquiring an additional 7,222 shares during the period. Principal Financial Group Inc. raised its stake in shares of Luminar Technologies by 23.7% in the first quarter. Principal Financial Group Inc. now owns 39,157 shares of the company’s stock valued at $77,000 after acquiring an additional 7,510 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Luminar Technologies by 27.9% in the fourth quarter. Victory Capital Management Inc. now owns 34,637 shares of the company’s stock valued at $117,000 after purchasing an additional 7,564 shares during the period. Finally, American International Group Inc. grew its stake in Luminar Technologies by 6.0% during the 1st quarter. American International Group Inc. now owns 143,517 shares of the company’s stock worth $283,000 after purchasing an additional 8,089 shares in the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Price Performance

NASDAQ LAZR opened at $0.93 on Tuesday. Luminar Technologies, Inc. has a 12 month low of $0.73 and a 12 month high of $5.20. The company has a market capitalization of $413.27 million, a price-to-earnings ratio of -0.68 and a beta of 1.61. The firm’s fifty day moving average price is $1.25 and its 200 day moving average price is $1.51.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The firm had revenue of $16.50 million for the quarter, compared to analysts’ expectations of $20.36 million. During the same period in the previous year, the business posted ($0.37) EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Luminar Technologies, Inc. will post -1 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on LAZR. JPMorgan Chase & Co. decreased their price objective on Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.00 price target on shares of Luminar Technologies in a report on Tuesday, September 10th. Westpark Capital restated a “buy” rating and issued a $9.00 price objective on shares of Luminar Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research report on Thursday, July 11th. Finally, Rosenblatt Securities cut their price target on Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Luminar Technologies currently has an average rating of “Hold” and a consensus price target 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.