AEye (NASDAQ:LIDR) Releases Q1 2023 Earnings Guidance

AEye (NASDAQ:LIDR – Get Rating) updated its first quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -$0.13–$0.13 for the period, compared to the consensus estimate of -$0.16. The company issued revenue guidance of $500.00K-$700.00K, compared to the consensus revenue estimate of $2.57 million.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DA Davidson cut shares of AEye from a buy rating to a neutral rating in a research report on Thursday. Guggenheim cut shares of AEye from a buy rating to a neutral rating in a research report on Thursday.

AEye Stock Performance

Shares of LIDR opened at $0.37 on Friday. The stock has a market capitalization of $59.54 million, a PE ratio of -0.58 and a beta of 2.77. AEye has a 1 year low of $0.37 and a 1 year high of $6.33. The company’s 50-day simple moving average is $0.63 and its 200-day simple moving average is $0.85.

AEye (NASDAQ:LIDR – Get Rating) last issued its quarterly earnings results on Wednesday, March 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $1.09 million for the quarter, compared to analyst estimates of $1.10 million. AEye had a negative return on equity of 70.52% and a negative net margin of 2,294.24%. During the same period in the prior year, the company posted ($0.15) EPS.

Institutional Trading of AEye

Large investors have recently made changes to their positions in the company. UBS Group AG purchased a new stake in shares of AEye during the first quarter worth approximately $26,000. Royal Bank of Canada increased its stake in AEye by 52.0% in the first quarter. Royal Bank of Canada now owns 9,651 shares of the company’s stock valued at $53,000 after purchasing an additional 3,301 shares during the last quarter. HighTower Advisors LLC purchased a new position in AEye in the first quarter valued at approximately $57,000. Verition Fund Management LLC purchased a new position in AEye in the second quarter valued at approximately $25,000. Finally, JPMorgan Chase & Co. increased its stake in AEye by 240.5% in the second quarter. JPMorgan Chase & Co. now owns 14,660 shares of the company’s stock valued at $28,000 after purchasing an additional 10,354 shares during the last quarter. 30.90% of the stock is currently owned by hedge funds and other institutional investors.

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.