Stock Traders Purchase Large Volume of Luminar Technologies Call Options (NASDAQ:LAZR)

Luminar Technologies, Inc. (NASDAQ:LAZR) was the recipient of unusually large options trading on Monday. Investors bought 7,165 call options on the company. This represents an increase of approximately 8% compared to the average volume of 6,647 call options.

Institutional Investors Weigh In On Luminar Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Luminar Technologies by 17.9% in the third quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock valued at $7,896,000 after buying an additional 1,331,067 shares in the last quarter. State Street Corp increased its position in Luminar Technologies by 2.7% during the 3rd quarter. State Street Corp now owns 8,525,374 shares of the company’s stock worth $7,670,000 after purchasing an additional 225,223 shares during the period. Charles Schwab Investment Management Inc. increased its position in Luminar Technologies by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock worth $2,691,000 after purchasing an additional 425,335 shares during the period. Barclays PLC grew its holdings in shares of Luminar Technologies by 469.2% in the 3rd quarter. Barclays PLC now owns 842,288 shares of the company’s stock worth $757,000 after acquiring an additional 694,315 shares during the period. Finally, XTX Topco Ltd grew its holdings in shares of Luminar Technologies by 819.6% in the 3rd quarter. XTX Topco Ltd now owns 649,175 shares of the company’s stock worth $584,000 after acquiring an additional 578,582 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Stock Performance

Shares of Luminar Technologies stock opened at $6.83 on Wednesday. The business’s 50 day moving average price is $5.91 and its 200 day moving average price is $9.10. The company has a market cap of $227.53 million, a price-to-earnings ratio of -0.51 and a beta of 1.74. Luminar Technologies has a one year low of $4.48 and a one year high of $34.80.

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.