AEye (NASDAQ:LIDR) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

AEye (NASDAQ:LIDR – Get Rating) posted its earnings results on Wednesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01), Yahoo Finance reports. AEye had a negative return on equity of 70.52% and a negative net margin of 2,294.24%. The business had revenue of $1.09 million for the quarter, compared to analyst estimates of $1.10 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share.

AEye Stock Performance

Shares of NASDAQ LIDR opened at $0.45 on Friday. The company has a market capitalization of $71.91 million, a P/E ratio of -0.70 and a beta of 2.77. AEye has a 52-week low of $0.40 and a 52-week high of $6.33. The company’s 50 day moving average price is $0.63 and its 200-day moving average price is $0.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG acquired a new position in shares of AEye in the 1st quarter worth approximately $26,000. Royal Bank of Canada increased its stake in shares of AEye by 52.0% in the 1st quarter. Royal Bank of Canada now owns 9,651 shares of the company’s stock valued at $53,000 after acquiring an additional 3,301 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of AEye in the 1st quarter valued at $57,000. Verition Fund Management LLC bought a new stake in shares of AEye in the 2nd quarter valued at $25,000. Finally, JPMorgan Chase & Co. increased its stake in shares of AEye by 240.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,660 shares of the company’s stock valued at $28,000 after acquiring an additional 10,354 shares in the last quarter. Institutional investors and hedge funds own 30.90% of the company’s stock.

Analyst Upgrades and Downgrades

LIDR has been the topic of several recent research reports. Guggenheim downgraded shares of AEye from a “buy” rating to a “neutral” rating in a research report on Thursday. DA Davidson downgraded shares of AEye from a “buy” rating to a “neutral” rating in a research report on Thursday.

About AEye

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AEye, Inc provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States, Europe, and Asia. It offers 4Sight A, a software-configurable lidar solution for automotive markets, including 4Sight at Design, Triggered 4Sight, or Responsive 4Sight software levels; and 4Sight M, a software-configurable lidar solution for the mobility and industrial markets, including 4Sight at Design, Triggered 4Sight, Responsive 4Sight, and Predictive 4Sight software levels.