Mirae Asset Global Investments Co. Ltd. Has $8.13 Million Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,641,881 shares of the company’s stock after selling 72,688 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Luminar Technologies were worth $8,127,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LAZR. Private Trust Co. NA acquired a new position in Luminar Technologies during the fourth quarter worth $25,000. Huntington National Bank bought a new stake in shares of Luminar Technologies in the 3rd quarter worth $29,000. MGO One Seven LLC bought a new stake in shares of Luminar Technologies in the 4th quarter worth $55,000. Envestnet Asset Management Inc. bought a new stake in shares of Luminar Technologies in the 4th quarter worth $64,000. Finally, Parametrica Management Ltd bought a new stake in shares of Luminar Technologies in the 4th quarter worth $67,000. Institutional investors and hedge funds own 35.26% of the company’s stock.

Insider Buying and Selling at Luminar Technologies

In other Luminar Technologies news, CEO Austin Russell acquired 1,300,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $5.83 per share, with a total value of $7,579,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,330,000 shares in the company, valued at $13,583,900. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 43.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LAZR shares. JPMorgan Chase & Co. upped their target price on shares of Luminar Technologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, March 6th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Luminar Technologies from $15.00 to $14.00 in a research note on Wednesday, March 1st. Rosenblatt Securities reiterated a “neutral” rating and issued a $8.00 target price on shares of Luminar Technologies in a research note on Wednesday, March 1st. Jefferies Financial Group initiated coverage on shares of Luminar Technologies in a research note on Tuesday, April 25th. They issued a “buy” rating and a $12.00 target price for the company. Finally, TD Cowen reduced their price target on shares of Luminar Technologies from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Luminar Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.42.

Luminar Technologies Stock Performance

LAZR opened at $6.27 on Monday. The firm has a 50-day moving average of $6.35 and a 200 day moving average of $6.75. The company has a debt-to-equity ratio of 14.23, a quick ratio of 4.77 and a current ratio of 4.92. Luminar Technologies, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $11.35.

Luminar Technologies (NASDAQ:LAZR – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The business had revenue of $11.13 million for the quarter, compared to analysts’ expectations of $12.88 million. Luminar Technologies had a negative net margin of 1,043.14% and a negative return on equity of 8,821.02%. As a group, sell-side analysts forecast that Luminar Technologies, Inc. will post -1.26 EPS for the current fiscal year.

Luminar Technologies Profile

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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 Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.