The Vanguard Group, Inc. recently announced the acquisition of new stake in Luminar Technologies Inc (NASDAQ:LAZR). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.22% to 23.27 million shares with purchase of 0.51 million shares. This fresh investment now brings its stake to 7.63% valued currently at $78.41 million. In addition, BlackRock Fund Advisors raised its holdings by 0.42 million to 16.52 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.61% or 96272.0 shares – to 6.09 million shares.
Currently, there are 270.08M common shares owned by the public and among those 256.48M shares have been available to trade.
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Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 3,847,194 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 172,332 shares.
The top 3 mutual fund holders in Luminar Technologies Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Delaware Ivy Science and Technolo. Vanguard Total Stock Market ETF owns 7.73 million shares of the company’s stock, all valued at over $26.04 million. iShares Russell 2000 ETF sold 19206.0 shares to see its total holdings shrink to 7.26 million shares valued at over $24.45 million and representing 2.38% of the shares outstanding. Delaware Ivy Science and Technolo now owns shares totaling to 2.32% of the shares outstanding.
The company’s stock has a 5-day price change of -6.19% and -35.97% over the past three months. LAZR shares are trading -30.27% year to date (YTD), with the 12-month market performance down to -60.96% lower. It has a 12-month low price of $2.09 and touched a high of $10.55 over the same period. LAZR has an average intraday trading volume of 7.86 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -21.84%, -18.91%, and -53.66% respectively.
Institutional ownership of Luminar Technologies Inc (NASDAQ: LAZR) shares accounts for 31.40% of the company’s 270.08M shares outstanding. Mutual fund holders own 25.52%, while other institutional holders and individual stakeholders account for 9.26% and 17.26% respectively.
It has a market capitalization of $944.58M and a beta (3y monthly) value of 1.55. The earnings-per-share (ttm) stands at -$1.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.20% over the week and 8.70% over the month.
Analysts forecast that Luminar Technologies Inc (LAZR) will achieve an EPS of $Lazard, Inc. for the current quarter, $39.54 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Ladder Capital Corp while analysts give the company a high EPS estimate of $Lamar Advertising Company. Comparatively, EPS for the current quarter was $nLIGHT, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -9.44%, and 24.04% over the next financial year.
Looking at the support for the LAZR, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on January 17, 2024, with the firm’s price target at $11-$4.
