Baader Bank Aktiengesellschaft Purchases Shares of 406,500 Luminar Technologies, Inc. (NASDAQ:LAZR)

Baader Bank Aktiengesellschaft acquired a new position in Luminar Technologies, Inc. (NASDAQ:LAZR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 406,500 shares of the company’s stock, valued at approximately $604,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LAZR. Vanguard Group Inc. boosted its holdings in shares of Luminar Technologies by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock worth $53,239,000 after buying an additional 1,319,480 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Luminar Technologies by 0.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,865,578 shares of the company’s stock valued at $3,675,000 after purchasing an additional 14,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Luminar Technologies by 48.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock valued at $2,407,000 after purchasing an additional 232,024 shares during the period. Boulder Hill Capital Management LP bought a new position in shares of Luminar Technologies during the 1st quarter worth about $1,375,000. Finally, Vontobel Holding Ltd. grew its stake in shares of Luminar Technologies by 36.3% in the 4th quarter. Vontobel Holding Ltd. now owns 673,533 shares of the company’s stock valued at $2,270,000 after buying an additional 179,216 shares during the period. 30.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup dropped their price target on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. The Goldman Sachs Group cut their target price on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a report on Thursday, July 11th. Rosenblatt Securities reduced their price target on shares of Luminar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Westpark Capital restated a “buy” rating and set a $9.00 price objective on shares of Luminar Technologies in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.89.

Luminar Technologies Stock Up 1.1 %

NASDAQ:LAZR traded up $0.01 during trading hours on Thursday, hitting $0.94. 18,548,983 shares of the company traded hands, compared to its average volume of 9,127,268. The company has a market cap of $419.15 million, a PE ratio of -0.68 and a beta of 1.62. The firm’s 50-day simple moving average is $1.49 and its 200-day simple moving average is $1.79. Luminar Technologies, Inc. has a one year low of $0.79 and a one year high of $6.23.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $16.50 million for the quarter, compared to the consensus estimate of $20.36 million. During the same period in the previous year, the business earned ($0.37) earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts expect that Luminar Technologies, Inc. will post -1 EPS for the current year.

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.