Malaga Cove Capital LLC Increases Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Malaga Cove Capital LLC increased its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 60.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,284 shares of the company’s stock after acquiring an additional 47,673 shares during the quarter. Malaga Cove Capital LLC’s holdings in Luminar Technologies were worth $426,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Vahanian & Associates Financial Planning Inc. purchased a new stake in shares of Luminar Technologies in the 4th quarter valued at about $41,000. Brave Asset Management Inc. purchased a new position in shares of Luminar Technologies during the fourth quarter worth approximately $49,000. 180 Wealth Advisors LLC acquired a new position in shares of Luminar Technologies in the 3rd quarter valued at $51,000. North Star Asset Management Inc. purchased a new stake in Luminar Technologies in the 4th quarter valued at $74,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Luminar Technologies in the 3rd quarter valued at $76,000. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Trading Up 12.0 %

LAZR stock traded up $0.18 on Friday, reaching $1.68. 10,417,409 shares of the company’s stock were exchanged, compared to its average volume of 7,339,653. Luminar Technologies, Inc. has a twelve month low of $1.21 and a twelve month high of $8.32. The stock has a fifty day moving average of $1.78 and a 200-day moving average of $2.54.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $22.11 million for the quarter, compared to analyst estimates of $27.25 million. As a group, sell-side analysts forecast that Luminar Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Rosenblatt Securities dropped their price objective on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. The Goldman Sachs Group decreased their price objective on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $4.00 target price (down previously from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Bank of America reaffirmed an “underperform” rating and set a $1.20 price target (down from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.39.

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.