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

Brave Asset Management Inc. bought a new stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) in the 4th quarter, Holdings Channel.com reports. The firm bought 14,650 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new stake in shares of Luminar Technologies during the 2nd quarter valued at $43,000. Waverly Advisors LLC purchased a new position in Luminar Technologies during the first quarter valued at $65,000. Caz Investments LP bought a new stake in Luminar Technologies during the second quarter valued at about $69,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Luminar Technologies in the first quarter worth about $65,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Luminar Technologies by 189.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 10,145 shares of the company’s stock valued at $66,000 after buying an additional 6,642 shares in the last quarter. 30.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Luminar Technologies Trading Up 10.7 %

Shares of LAZR stock traded up $0.19 during trading hours on Thursday, reaching $1.97. 10,486,971 shares of the company’s stock were exchanged, compared to its average volume of 7,798,735. Luminar Technologies, Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $8.32. The stock’s 50 day moving average is $2.34 and its 200-day moving average is $3.07. The company has a market cap of $831.12 million, a price-to-earnings 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 the consensus estimate of ($0.30) by ($0.02). The company had revenue of $22.11 million during the quarter, compared to the consensus estimate of $27.25 million. Equities analysts anticipate that Luminar Technologies, Inc. will post -1.03 EPS for the current year.

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.