Luminar Technologies, Inc. (NASDAQ:LAZR) Short Interest Update – MarketBeat
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Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 56,760,000 shares, a growth of 7.9% from the October 31st total of 52,610,000 shares. Based on an average daily trading volume, of 6,050,000 shares, the short-interest ratio is currently 9.4 days. Approximately 26.1% of the company’s shares are sold short.
Luminar Technologies Stock Performance
Shares of LAZR stock traded up $0.43 during trading on Friday, reaching $8.33. 8,851,988 shares of the company’s stock traded hands, compared to its average volume of 5,103,637. The company has a market capitalization of $3.02 billion, a P/E ratio of -7.86 and a beta of 1.50. The company has a current ratio of 9.86, a quick ratio of 9.72 and a debt-to-equity ratio of 14.23. The firm’s 50-day moving average is $7.62 and its 200 day moving average is $7.99. Luminar Technologies has a 1 year low of $5.61 and a 1 year high of $18.16.
Insider Buying and Selling
In other news, CEO Austin Russell bought 25,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average price of $9.18 per share, with a total value of $229,500.00. Following the completion of the purchase, the chief executive officer now directly owns 980,000 shares of the company’s stock, valued at $8,996,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 75,000 shares of company stock valued at $711,000 over the last quarter. Insiders own 43.25% of the company’s stock.
Institutional Trading of Luminar Technologies
A number of institutional investors have recently modified their holdings of LAZR. Huntington National Bank purchased a new stake in shares of Luminar Technologies during the 3rd quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC increased its holdings in Luminar Technologies by 8,000.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,025 shares of the company’s stock worth $32,000 after acquiring an additional 2,000 shares during the period. Prospera Financial Services Inc bought a new stake in Luminar Technologies during the 1st quarter worth approximately $32,000. Nisa Investment Advisors LLC bought a new stake in Luminar Technologies during the 2nd quarter worth approximately $48,000. Finally, MQS Management LLC bought a new stake in Luminar Technologies during the 2nd quarter worth approximately $59,000. 62.57% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on LAZR shares. Cowen lifted their price target on shares of Luminar Technologies to $14.00 in a research note on Monday, August 15th. JPMorgan Chase & Co. assumed coverage on shares of Luminar Technologies in a research report on Tuesday, September 20th. They set an “overweight” rating and a $30.00 target price for the company. Robert W. Baird decreased their target price on shares of Luminar Technologies from $30.00 to $15.00 in a research report on Wednesday, August 10th. Craig Hallum decreased their target price on shares of Luminar Technologies to $8.00 in a research report on Monday, August 15th. Finally, Cowen boosted their target price on shares of Luminar Technologies from $12.00 to $14.00 in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Luminar Technologies presently has an average rating of “Moderate Buy” and an average target price of $15.57.
About Luminar Technologies
(Get Rating)
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.
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