North Star Investment Management Corp. Has $246,000 Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

North Star Investment Management Corp. decreased its position in Luminar Technologies, Inc. (NASDAQ:LAZR) by 7.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 45,629 shares of the company’s stock after selling 3,602 shares during the quarter. North Star Investment Management Corp. owned 0.11% of Luminar Technologies worth $246,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in Luminar Technologies in the fourth quarter worth $40,000. GAMMA Investing LLC grew its stake in shares of Luminar Technologies by 1,077.9% during the first quarter. GAMMA Investing LLC now owns 9,470 shares of the company’s stock valued at $51,000 after purchasing an additional 8,666 shares during the last quarter. DnB Asset Management AS bought a new position in Luminar Technologies in the 4th quarter worth approximately $91,000. SBI Securities Co. Ltd. acquired a new position in Luminar Technologies during the 4th quarter worth $155,000. Finally, Brevan Howard Capital Management LP boosted its position in Luminar Technologies by 199.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company’s stock valued at $173,000 after buying an additional 21,416 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Stock Up 0.7%

LAZR stock opened at $2.98 on Tuesday. Luminar Technologies, Inc. has a twelve month low of $2.88 and a twelve month high of $32.70. The company has a market cap of $139.70 million, a P/E ratio of -0.22 and a beta of 2.01. The business’s fifty day moving average is $3.85 and its 200-day moving average is $5.31.

Luminar Technologies (NASDAQ:LAZR) last released its earnings results on Wednesday, May 14th. The company reported ($1.50) earnings per share for the quarter, beating the consensus estimate of ($1.75) by $0.25. The company had revenue of $18.89 million during the quarter, compared to analyst estimates of $16.27 million. The company’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. Research analysts anticipate that Luminar Technologies, Inc. will post -14.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LAZR shares. JPMorgan Chase & Co. restated a “neutral” rating on shares of Luminar Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group lowered their price objective on Luminar Technologies from $3.50 to $2.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.86.

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.