Luminar Technologies stock is trading -40.22% below its average target price of $11.59 after marking a 5.9% during today's morning session. Analysts are giving the mid-cap Data Processing Services company an average rating of buy and target prices ranging from $4.5 to $19.0 per share.
The stock has an unusually large proportion of its shares sold short at 25.9%, and a short ratio of 9.26. Since 13.25% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 56.6% of Luminar Technologies's shares being owned by this investor type.
Institutions Invested in Luminar Technologies
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Vanguard Group, Inc. (The) | 8% | 22,719,541 | $157,412,343 |
| 2023-03-31 | Blackrock Inc. | 6% | 17,803,237 | $123,349,730 |
| 2023-03-31 | G2VP I Associates, LLC | 4% | 10,598,865 | $73,434,238 |
| 2023-03-31 | Macquarie Group Limited | 3% | 7,745,035 | $53,661,476 |
| 2023-03-31 | Moore Capital Management, LP | 2% | 6,939,023 | $48,077,022 |
| 2023-03-31 | Citadel Advisors Llc | 2% | 6,288,957 | $43,573,039 |
| 2023-03-31 | State Street Corporation | 2% | 5,351,536 | $37,078,118 |
| 2023-03-31 | Geode Capital Management, LLC | 2% | 4,827,946 | $33,450,424 |
| 2023-03-31 | Vantage Investment Partners, LLC | 1% | 3,834,994 | $26,570,756 |
| 2023-03-31 | Renaissance Technologies, LLC | 1% | 3,498,300 | $24,237,972 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Luminar Technologies.
