Wedmont Private Capital Purchases 20,000 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Wedmont Private Capital lifted its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR) by 32.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,609 shares of the company’s stock after acquiring an additional 20,000 shares during the quarter. Wedmont Private Capital’s holdings in Luminar Technologies were worth $122,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Howard Financial Services LTD. grew its holdings in shares of Luminar Technologies by 16.9% during the second quarter. Howard Financial Services LTD. now owns 58,425 shares of the company’s stock worth $87,000 after purchasing an additional 8,425 shares during the last quarter. Virtu Financial LLC acquired a new position in Luminar Technologies during the 1st quarter worth $163,000. Evergreen Wealth Solutions LLC bought a new position in Luminar Technologies in the 1st quarter valued at $39,000. Price T Rowe Associates Inc. MD increased its stake in shares of Luminar Technologies by 30.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock valued at $294,000 after buying an additional 34,566 shares during the period. Finally, Caz Investments LP raised its position in shares of Luminar Technologies by 25.0% during the first quarter. Caz Investments LP now owns 150,000 shares of the company’s stock worth $296,000 after acquiring an additional 30,000 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LAZR has been the subject of several analyst reports. Rosenblatt Securities lowered 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. Citigroup dropped their price objective on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 9th. The Goldman Sachs Group lowered their price target on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating for the company in a research note on Thursday, July 11th. Finally, Westpark Capital reissued a “buy” rating and set a $9.00 price target on shares of Luminar Technologies in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.89.

Luminar Technologies Trading Up 6.6 %

Shares of NASDAQ LAZR opened at $0.98 on Wednesday. The company has a fifty day moving average price of $1.50 and a 200 day moving average price of $1.79. The firm has a market cap of $434.57 million, a PE ratio of -0.71 and a beta of 1.62. Luminar Technologies, Inc. has a 1-year low of $0.79 and a 1-year high of $6.38.

Luminar Technologies (NASDAQ:LAZR) last released its 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 business had revenue of $16.50 million during the quarter, compared to the consensus estimate of $20.36 million. During the same period last year, the business posted ($0.37) EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast 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.