Entropy Technologies LP Purchases Shares of 18,000 Luminar Technologies, Inc. (NASDAQ:LAZR)

Entropy Technologies LP purchased a new stake in Luminar Technologies, Inc. (NASDAQ:LAZR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,000 shares of the company’s stock, valued at approximately $97,000.

Other large investors have also recently added to or reduced their stakes in the company. PEAK6 Investments LLC acquired a new stake in Luminar Technologies in the third quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Luminar Technologies in the third quarter valued at about $31,000. Tyler Stone Wealth Management raised its position in shares of Luminar Technologies by 70.5% in the third quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after purchasing an additional 15,300 shares during the period. Point72 DIFC Ltd bought a new position in shares of Luminar Technologies in the third quarter valued at about $40,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Luminar Technologies by 30.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company’s stock valued at $49,000 after purchasing an additional 12,685 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LAZR. The Goldman Sachs Group dropped their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a research report on Thursday, November 14th. Craig Hallum dropped their price objective on shares of Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Luminar Technologies presently has a consensus rating of “Hold” and an average target price of $50.06.

Luminar Technologies Stock Down 2.3 %

Shares of Luminar Technologies stock opened at $6.45 on Friday. The company has a market capitalization of $214.85 million, a price-to-earnings ratio of -0.48 and a beta of 1.62. Luminar Technologies, Inc. has a 12-month low of $4.93 and a 12-month high of $42.30. The firm’s 50-day moving average price is $6.23 and its two-hundred day moving average price is $10.89.

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.