Brave Asset Management Inc. Invests $49,000 in Luminar Technologies, Inc. (NASDAQ:LAZR)

Brave Asset Management Inc. acquired a new position in Luminar Technologies, Inc. (NASDAQ:LAZR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,650 shares of the company’s stock, valued at approximately $49,000.

A number of other large investors have also modified their holdings of LAZR. Cambridge Investment Research Advisors Inc. increased its position in shares of Luminar Technologies by 17.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,762 shares of the company’s stock valued at $512,000 after buying an additional 4,925 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Luminar Technologies by 4.7% during the 1st quarter. HighTower Advisors LLC now owns 92,048 shares of the company’s stock worth $1,444,000 after purchasing an additional 4,153 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Luminar Technologies by 30.5% in the 1st quarter. Citigroup Inc. now owns 146,881 shares of the company’s stock valued at $2,296,000 after buying an additional 34,316 shares during the last quarter. BlackRock Inc. grew its stake in shares of Luminar Technologies by 23.0% in the first quarter. BlackRock Inc. now owns 4,623,810 shares of the company’s stock valued at $72,272,000 after buying an additional 865,041 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Luminar Technologies by 1.0% during the first quarter. Allianz Asset Management GmbH now owns 3,023,514 shares of the company’s stock worth $47,258,000 after buying an additional 30,900 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Stock Up 10.7 %

Shares of LAZR traded up $0.19 during midday trading on Thursday, reaching $1.97. 10,486,971 shares of the stock were exchanged, compared to its average volume of 7,798,735. The stock’s 50 day simple moving average is $2.34 and its 200 day simple moving average is $3.07. Luminar Technologies, Inc. has a twelve month low of $1.63 and a twelve month high of $8.32. The company has a market cap of $831.12 million, a P/E ratio of -1.34 and a beta of 1.51.

Luminar Technologies (NASDAQ:LAZR) last announced its 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 business had revenue of $22.11 million for the quarter, compared to analysts’ expectations of $27.25 million. As a group, analysts predict that Luminar Technologies, Inc. will post -1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LAZR shares. Rosenblatt Securities decreased their price objective on shares of Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a research report on Tuesday. The Goldman Sachs Group decreased their target price on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $4.00 price target (down previously from $11.00) on shares of Luminar Technologies in a report on Wednesday, January 17th. Finally, Bank of America decreased their price objective on shares of Luminar Technologies from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.38.

Luminar Technologies 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.