Insider Selling: AEye (NASDAQ:LIDR) Director Sells $76,800.00 in Stock

AEye, Inc. (NASDAQ:LIDR) Director Luis Dussan sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2.40, for a total value of $76,800.00. Following the transaction, the director owned 134,132 shares of the company’s stock, valued at approximately $321,916.80. This represents a 19.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

AEye Price Performance

LIDR opened at $2.36 on Monday. The stock’s 50 day moving average price is $2.62 and its 200 day moving average price is $2.21. The stock has a market cap of $106.34 million, a P/E ratio of -1.09 and a beta of 2.94. AEye, Inc. has a 12 month low of $0.49 and a 12 month high of $6.44.

AEye (NASDAQ:LIDR) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.07. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.04 million. AEye had a negative return on equity of 102.95% and a negative net margin of 19,320.88%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LIDR shares. Alliance Global Partners started coverage on shares of AEye in a research report on Monday, September 8th. They set a “buy” rating and a $6.00 price target on the stock. Wall Street Zen raised AEye from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AEye in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.

Hedge Funds Weigh In On AEye

Several hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in AEye during the third quarter valued at approximately $33,000. Thompson Davis & CO. Inc. bought a new position in shares of AEye in the second quarter valued at $34,000. Two Sigma Investments LP acquired a new stake in shares of AEye during the 3rd quarter valued at $95,000. Geode Capital Management LLC boosted its stake in shares of AEye by 6.8% during the 2nd quarter. Geode Capital Management LLC now owns 108,323 shares of the company’s stock worth $112,000 after acquiring an additional 6,873 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of AEye by 657.5% during the 3rd quarter. UBS Group AG now owns 307,696 shares of the company’s stock worth $766,000 after acquiring an additional 267,075 shares in the last quarter. Institutional investors and hedge funds own 21.58% of the company’s stock.

About AEye

AEye, Inc, together with its subsidiaries, provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States, Europe, and Asia-Pacific. It offers 4Sight intelligent sensing lidar platform, including 4Sight at Design, Triggered 4Sight, Responsive 4Sight, and Predictive 4Sight; and 4Sight for automotive and industrial market.