Luminar Technologies (NASDAQ:LAZR) Stock Unloaded Sen. Mitch McConnell

Senator Mitch McConnell (R-Kentucky) recently sold shares of Luminar Technologies, Inc. (NASDAQ:LAZR). In a filing disclosed on January 13th, the Senator disclosed that they had sold between $1,001 and $15,000 in Luminar Technologies stock on December 24th.

Senator Mitch McConnell also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Wells Fargo & Company (NYSE:WFC) on 12/1/2025.

Luminar Technologies Stock Performance

Shares of LAZR stock traded down $0.04 during mid-day trading on Wednesday, hitting $0.18. 36,536,255 shares of the stock traded hands, compared to its average volume of 62,596,088. Luminar Technologies, Inc. has a twelve month low of $0.17 and a twelve month high of $10.40. The company’s 50-day simple moving average is $0.63 and its 200-day simple moving average is $1.73. The firm has a market cap of $13.78 million, a price-to-earnings ratio of -0.04 and a beta of 1.47.

Luminar Technologies (NASDAQ:LAZR) last announced its earnings results on Thursday, November 13th. The company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.14. The firm had revenue of $18.75 million for the quarter, compared to the consensus estimate of $17.56 million. Analysts forecast that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Luminar Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Luminar Technologies in a report on Monday, November 3rd. Finally, Wall Street Zen raised Luminar Technologies from a “sell” rating to a “hold” rating in a report on Monday, November 24th. Three analysts have rated the stock with a Sell rating, According to MarketBeat.com, Luminar Technologies presently has an average rating of “Strong Sell” and an average price target of $2.00.

Institutional Trading of Luminar Technologies

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Luminar Technologies during the 3rd quarter worth about $56,000. Scientech Research LLC bought a new stake in shares of Luminar Technologies during the 3rd quarter worth $42,000. Integrated Wealth Concepts LLC acquired a new position in Luminar Technologies in the 3rd quarter valued at $118,000. Man Group plc bought a new position in Luminar Technologies in the 3rd quarter worth $58,000. Finally, Marathon Trading Investment Management LLC bought a new stake in Luminar Technologies during the third quarter valued at about $84,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

About Senator McConnell

Mitch McConnell (Republican Party) is a member of the U.S. Senate from Kentucky. He assumed office on January 3, 1985. His current term ends on January 3, 2027. McConnell (Republican Party) ran for re-election to the U.S. Senate to represent Kentucky. He won in the general election on November 3, 2020. McConnell is the Senate minority leader in the 118th Congress. He became the minority leader when the Democratic Party gained a majority in the Senate in January 2021.McConnell previously served as Senate majority leader from 2015 to 2021. He was unanimously elected as majority leader by Republicans following the 2014 elections. Before that, he served as Senate minority leader from 2007 to 2015. As Senate majority leader, McConnell set records for the number of judicial nominees confirmed during the first two years of a presidency. As of July 2019, the Senate had confirmed two Supreme Court justices, 41 circuit court appeals judges, and 80 district court judges during President Donald Trump’s presidency. “To put that in context, that’s about one in five of the Courts of Appeals judges nationwide have now been appointed by this president and confirmed by this Senate in two and a half years. And I want you to know that my view is, there will be no vacancies left behind. None,” McConnell said in June 2019. McConnell previously worked as the Deputy U.S. Attorney for Legislative Affairs from 1974 to 1975 and as a judge-executive of Jefferson County, KY, from 1979 to 1985.

Luminar Technologies Company Profile

Luminar Technologies, Inc is a technology company focused on developing advanced sensor and perception solutions for the automotive market. The company designs and manufactures proprietary LiDAR hardware paired with machine perception software to enable advanced driver assistance systems (ADAS) and future autonomous driving applications. Luminar’s platform is engineered to deliver long-range, high-resolution 3D mapping capabilities that help vehicles detect and react to obstacles and road conditions in real time.

Founded in 2012 by CEO Austin Russell, Luminar began as a research effort to overcome the limitations of existing LiDAR systems, such as cost, range and resolution.