Insider Selling: Luminar Technologies, Inc. (NASDAQ:LAZR) CFO Sells $101,958.85 in Stock

Posted by Defense World Staff on Sep 11th, 2023

Luminar Technologies, Inc. (NASDAQ:LAZR – Get Free Report) CFO Thomas Fennimore sold 18,305 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $5.57, for a total transaction of $101,958.85. Following the completion of the sale, the chief financial officer now owns 692,699 shares in the company, valued at $3,858,333.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Luminar Technologies Stock Down 1.7 %

Shares of Luminar Technologies stock opened at $5.33 on Monday. Luminar Technologies, Inc. has a 12 month low of $3.91 and a 12 month high of $10.55. The stock has a market cap of $2.08 billion, a PE ratio of -3.55 and a beta of 1.57. The business has a fifty day simple moving average of $6.54 and a 200-day simple moving average of $6.72.

Luminar Technologies (NASDAQ:LAZR – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.04). The business had revenue of $16.20 million for the quarter, compared to analyst estimates of $15.93 million. Luminar Technologies had a negative return on equity of 8,821.02% and a negative net margin of 1,008.66%. Analysts expect that Luminar Technologies, Inc. will post -1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. acquired a new stake in shares of Luminar Technologies during the 2nd quarter valued at $27,000. Spotlight Asset Group Inc. purchased a new stake in shares of Luminar Technologies during the second quarter worth $28,000. Core Wealth Advisors Inc. boosted its position in Luminar Technologies by 275.2% during the first quarter. Core Wealth Advisors Inc. now owns 4,998 shares of the company’s stock valued at $32,000 after purchasing an additional 3,666 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Luminar Technologies in the second quarter valued at about $43,000. Finally, Psagot Value Holdings Ltd. Israel acquired a new position in Luminar Technologies in the 1st quarter worth about $49,000. 60.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LAZR has been the topic of a number of research reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $6.00 target price on shares of Luminar Technologies in a report on Wednesday, August 9th. Citigroup dropped their price target on Luminar Technologies from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.94.

Read Our Latest Research Report on LAZR

Luminar Technologies Company Profile

(Get Free Report)

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.