North Star Asset Management Inc. Takes $74,000 Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

North Star Asset Management Inc. bought a new position in Luminar Technologies, Inc. (NASDAQ:LAZR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,000 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its holdings in shares of Luminar Technologies by 16.4% in the 4th quarter. Handelsbanken Fonder AB now owns 58,200 shares of the company’s stock worth $196,000 after purchasing an additional 8,200 shares during the period. Daiwa Securities Group Inc. lifted its position in Luminar Technologies by 150.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 31,593 shares of the company’s stock valued at $106,000 after buying an additional 18,980 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Luminar Technologies by 36.3% during the fourth quarter. Vontobel Holding Ltd. now owns 673,533 shares of the company’s stock worth $2,270,000 after buying an additional 179,216 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Luminar Technologies by 153.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 22,830 shares of the company’s stock worth $77,000 after acquiring an additional 13,820 shares in the last quarter. Finally, Vahanian & Associates Financial Planning Inc. acquired a new position in shares of Luminar Technologies during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 30.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on LAZR shares. Rosenblatt Securities reduced their price objective on 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 target on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $4.00 price objective (down previously from $11.00) on shares of Luminar Technologies in a research note on Wednesday, January 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Finally, Bank of America reiterated an “underperform” rating and issued a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.09.

Luminar Technologies Stock Performance

Shares of Luminar Technologies stock opened at $1.30 on Tuesday. Luminar Technologies, Inc. has a 1 year low of $1.21 and a 1 year high of $8.32. The firm’s 50-day simple moving average is $1.96 and its 200-day simple moving average is $2.69.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $22.11 million during the quarter, compared to analysts’ expectations of $27.25 million. As a group, equities research analysts expect that Luminar Technologies, Inc. will post -1.01 earnings per share for the current year.

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.