Main Management ETF Advisors LLC Has $167,000 Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Main Management ETF Advisors LLC decreased its stake in Luminar Technologies, Inc. (NASDAQ:LAZR) by 93.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,086 shares of the company’s stock after selling 476,418 shares during the period. Main Management ETF Advisors LLC’s holdings in Luminar Technologies were worth $167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its position in shares of Luminar Technologies by 469.2% during the 3rd quarter. Barclays PLC now owns 842,288 shares of the company’s stock valued at $757,000 after purchasing an additional 694,315 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Luminar Technologies during the 4th quarter valued at about $97,000. SBI Securities Co. Ltd. bought a new stake in shares of Luminar Technologies during the 4th quarter valued at about $155,000. DnB Asset Management AS bought a new stake in shares of Luminar Technologies during the 4th quarter valued at about $91,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Luminar Technologies in the fourth quarter worth approximately $1,452,000. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Trading Up 5.1%

Shares of LAZR opened at $4.76 on Thursday. The company has a market capitalization of $201.77 million, a price-to-earnings ratio of -0.36 and a beta of 2.06. The stock has a 50 day moving average of $4.78 and a 200 day moving average of $6.79. Luminar Technologies, Inc. has a 12 month low of $3.30 and a 12 month high of $32.70.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group cut their price target on Luminar Technologies from $3.50 to $2.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Luminar Technologies presently has an average rating of “Hold” and a consensus target price of $53.86.

About Luminar Technologies

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.