Mizuho Markets Americas LLC Decreases Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Mizuho Markets Americas LLC trimmed its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 29.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,700 shares of the company’s stock after selling 45,000 shares during the period. Mizuho Markets Americas LLC’s holdings in Luminar Technologies were worth $210,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vahanian & Associates Financial Planning Inc. purchased a new position in shares of Luminar Technologies during the 4th quarter valued at about $41,000. Leo Wealth LLC purchased a new position in Luminar Technologies in the 4th quarter worth approximately $43,000. Brave Asset Management Inc. purchased a new position in Luminar Technologies in the 4th quarter worth approximately $49,000. Vanguard Personalized Indexing Management LLC purchased a new position in Luminar Technologies in the 4th quarter worth approximately $55,000. Finally, Quadrature Capital Ltd purchased a new position in Luminar Technologies in the 4th quarter worth approximately $67,000. 30.99% of the stock is owned by hedge funds and other institutional investors.

Luminar Technologies Price Performance

Shares of LAZR stock traded down $0.16 during trading hours on Friday, reaching $1.67. The company’s stock had a trading volume of 5,201,806 shares, compared to its average volume of 7,454,883. Luminar Technologies, Inc. has a one year low of $1.21 and a one year high of $8.01. The firm’s fifty day simple moving average is $1.59 and its 200 day simple moving average is $1.96.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.30). The business had revenue of $20.97 million during the quarter, compared to the consensus estimate of $22.09 million. On average, equities research analysts anticipate that Luminar Technologies, Inc. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

LAZR has been the topic of a number of analyst reports. Citigroup decreased their price target on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. The Goldman Sachs Group decreased their price target on Luminar Technologies from $1.50 to $1.00 and set a “sell” rating on the stock in a research note on Thursday, July 11th. Bank of America reaffirmed an “underperform” rating and issued a $1.20 price target (down from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.37.

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.