Main Management ETF Advisors LLC Makes New $457,000 Investment in Luminar Technologies, Inc. (NASDAQ:LAZR)

Main Management ETF Advisors LLC bought a new position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 507,504 shares of the company’s stock, valued at approximately $457,000.

Several other hedge funds have also recently bought and sold shares of LAZR. Price T Rowe Associates Inc. MD raised its holdings in shares of Luminar Technologies by 30.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock valued at $294,000 after purchasing an additional 34,566 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Luminar Technologies by 32.5% in the second quarter. Wedmont Private Capital now owns 81,609 shares of the company’s stock valued at $122,000 after buying an additional 20,000 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Luminar Technologies by 27.0% in the second quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company’s stock valued at $39,000 after buying an additional 5,592 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of Luminar Technologies in the second quarter valued at $604,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Luminar Technologies by 168.7% in the second quarter. Nisa Investment Advisors LLC now owns 49,046 shares of the company’s stock valued at $73,000 after buying an additional 30,796 shares in the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Craig Hallum reduced their target price on shares of Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their price target on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $15.00 price target on shares of Luminar Technologies in a research note on Tuesday, September 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.06.

Luminar Technologies Trading Up 3.7 %

Shares of NASDAQ LAZR opened at $7.81 on Friday. The company has a market cap of $260.15 million, a price-to-earnings ratio of -0.59 and a beta of 1.53. Luminar Technologies, Inc. has a 12 month low of $7.44 and a 12 month high of $55.35. The stock has a 50-day moving average price of $12.02 and a two-hundred day moving average price of $16.95.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Monday, November 11th. The company reported ($2.40) EPS for the quarter, topping the consensus estimate of ($3.30) by $0.90. The business had revenue of $15.49 million for the quarter, compared to analyst estimates of $17.70 million. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($4.95) EPS. On average, sell-side analysts predict that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

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.