Headlands Technologies LLC Invests $90,000 in Luminar Technologies, Inc. (NASDAQ:LAZR)

Headlands Technologies LLC bought a new position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,609 shares of the company’s stock, valued at approximately $90,000.

Several other large investors also recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of Luminar Technologies by 19.2% during the 1st quarter. Rhumbline Advisers now owns 36,024 shares of the company’s stock worth $194,000 after purchasing an additional 5,810 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Luminar Technologies by 22.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 35,298 shares of the company’s stock worth $190,000 after purchasing an additional 6,470 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Luminar Technologies during the 4th quarter worth $40,000. GAMMA Investing LLC grew its holdings in shares of Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company’s stock worth $51,000 after purchasing an additional 8,666 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Luminar Technologies by 15.1% in the first quarter. Bank of New York Mellon Corp now owns 68,271 shares of the company’s stock valued at $368,000 after buying an additional 8,970 shares in the last quarter. 30.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Luminar Technologies in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Luminar Technologies has a consensus rating of “Hold” and an average target price of $40.33.

Luminar Technologies Stock Up 0.4%

NASDAQ:LAZR opened at $2.69 on Tuesday. The stock’s 50-day simple moving average is $3.00 and its 200 day simple moving average is $4.26. The firm has a market capitalization of $126.11 million, a PE ratio of -0.41 and a beta of 1.96. Luminar Technologies, Inc. has a twelve month low of $2.50 and a twelve month high of $18.60.

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

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.