DNB Asset Management AS Buys 50978 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) – Defense World
Posted by admin on Jun 25th, 2022 
DNB Asset Management AS boosted its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) by 60.8% in the first quarter, HoldingsChannel reports. The fund owned 134,845 shares of the company’s stock after acquiring an additional 50,978 shares during the period. DNB Asset Management AS’s holdings in Luminar Technologies were worth $2,108,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tyler Stone Wealth Management purchased a new position in Luminar Technologies during the 4th quarter valued at about $174,000. Vident Investment Advisory LLC lifted its position in Luminar Technologies by 18.6% during the 4th quarter. Vident Investment Advisory LLC now owns 1,661,945 shares of the company’s stock valued at $28,103,000 after acquiring an additional 260,237 shares during the period. Oasis Management Co Ltd. purchased a new position in Luminar Technologies during the 4th quarter valued at about $609,000. Westside Investment Management Inc. lifted its position in Luminar Technologies by 53.5% during the 4th quarter. Westside Investment Management Inc. now owns 9,750 shares of the company’s stock valued at $164,000 after acquiring an additional 3,400 shares during the period. Finally, Seven Eight Capital LP purchased a new position in Luminar Technologies during the 4th quarter valued at about $1,880,000. 58.54% of the stock is owned by institutional investors.
In other Luminar Technologies news, Director Jun Hong Heng sold 59,957 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $14.03, for a total transaction of $841,196.71. Following the completion of the transaction, the director now directly owns 1,510,067 shares of the company’s stock, valued at approximately $21,186,240.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Austin Russell purchased 300,000 shares of Luminar Technologies stock in a transaction on Tuesday, May 10th. The shares were acquired at an average cost of $8.89 per share, with a total value of $2,667,000.00. Following the completion of the transaction, the chief executive officer now directly owns 455,000 shares in the company, valued at approximately $4,044,950. The disclosure for this purchase can be found here. 43.25% of the stock is currently owned by company insiders.
NASDAQ LAZR opened at $7.49 on Friday. The company’s 50-day moving average price is $10.09 and its 200-day moving average price is $13.26. The company has a current ratio of 16.06, a quick ratio of 15.85 and a debt-to-equity ratio of 4.92. The stock has a market cap of $2.62 billion, a PE ratio of -10.40 and a beta of 1.45. Luminar Technologies, Inc. has a 12 month low of $6.93 and a 12 month high of $25.28.
Luminar Technologies (NASDAQ:LAZR – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.03). Luminar Technologies had a negative return on equity of 73.24% and a negative net margin of 747.76%. The business had revenue of $6.86 million for the quarter, compared to the consensus estimate of $9.59 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. As a group, sell-side analysts forecast that Luminar Technologies, Inc. will post -1 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of Luminar Technologies from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, June 1st. Credit Suisse Group assumed coverage on shares of Luminar Technologies in a report on Thursday, April 14th. They issued an “outperform” rating and a $22.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Luminar Technologies from $28.00 to $23.00 in a report on Tuesday, March 1st. Sumitomo Mitsui Financial Group assumed coverage on shares of Luminar Technologies in a report on Tuesday, March 29th. They issued a “neutral” rating and a $16.00 target price for the company. Finally, Northland Securities decreased their target price on shares of Luminar Technologies from $23.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Luminar Technologies currently has an average rating of “Moderate Buy” and an average price target of $21.60.
Luminar Technologies Company Profile (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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