Main Management ETF Advisors LLC Has $167,000 Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Main Management ETF Advisors LLC reduced its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 93.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,086 shares of the company’s stock after selling 476,418 shares during the period. Main Management ETF Advisors LLC owned approximately 0.09% of Luminar Technologies worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Luminar Technologies in the 4th quarter valued at $40,000. DnB Asset Management AS acquired a new position in Luminar Technologies in the 4th quarter valued at $91,000. Entropy Technologies LP acquired a new position in Luminar Technologies in the 4th quarter valued at $97,000. SBI Securities Co. Ltd. acquired a new position in Luminar Technologies in the 4th quarter valued at $155,000. Finally, Brevan Howard Capital Management LP raised its holdings in Luminar Technologies by 199.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company’s stock valued at $173,000 after acquiring an additional 21,416 shares in the last quarter. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Stock Up 5.1%

Shares of LAZR opened at $4.76 on Thursday. Luminar Technologies, Inc. has a 12-month low of $3.30 and a 12-month high of $32.70. The business has a 50-day simple moving average of $4.78 and a two-hundred day simple moving average of $6.79. The stock has a market cap of $201.77 million, a PE ratio of -0.36 and a beta of 2.06.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group dropped their price objective on Luminar Technologies from $3.50 to $2.00 and set a “sell” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.86.

About Luminar Technologies

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.