AEye (NASDAQ:LIDR) Shares Up 14.7% – Here’s What Happened

AEye, Inc. (NASDAQ:LIDR)’s stock price was up 14.7% on Friday . The company traded as high as $2.11 and last traded at $2.11. Approximately 1,149,925 shares changed hands during trading, a decline of 11% from the average daily volume of 1,288,171 shares. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

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

AEye Price Performance

The firm’s 50 day moving average is $2.39 and its 200 day moving average is $2.34. The company has a market cap of $95.08 million, a PE ratio of -0.97 and a beta of 2.97.

AEye (NASDAQ:LIDR) last posted its 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 business had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.04 million. AEye had a negative net margin of 19,320.88% and a negative return on equity of 102.95%.

Insider Transactions at AEye

In related news, Director Luis Dussan sold 32,000 shares of AEye stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2.40, for a total transaction of $76,800.00. Following the completion of the sale, the director owned 134,132 shares of the company’s stock, valued at approximately $321,916.80. This trade represents a 19.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.93% of the company’s stock.

Institutional Trading of AEye

Several institutional investors and hedge funds have recently modified their holdings of LIDR. Squarepoint Ops LLC bought a new position in AEye during the third quarter valued at approximately $33,000. Thompson Davis & CO. Inc. bought a new stake in shares of AEye in the 2nd quarter worth approximately $34,000. Two Sigma Investments LP purchased a new stake in shares of AEye in the 3rd quarter valued at $95,000. Geode Capital Management LLC grew its holdings 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 valued at $112,000 after purchasing an additional 6,873 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of AEye by 657.5% during the 3rd quarter. UBS Group AG now owns 307,696 shares of the company’s stock valued at $766,000 after purchasing an additional 267,075 shares during the last quarter. Hedge funds and other institutional investors own 21.58% of the company’s stock.

AEye Company Profile

AEye, Inc is a technology company specializing in adaptive LiDAR (Light Detection and Ranging) systems designed to support advanced driver assistance systems (ADAS), autonomous vehicles and other sensing applications. Through its intelligent detection and ranging (iDAR) platform, AEye integrates high-performance sensors with real-time data processing software to deliver customizable sensing ‘pipelines’ that prioritize relevant objects and environmental features. This approach enables longer detection ranges, higher resolution imagery and dynamic field-of-view adjustment, making AEye’s offerings well suited for complex driving environments and safety-critical scenarios.

The company’s core product suite centers on solid-state and hybrid LiDAR sensors that can be configured for a variety of end uses, including passenger vehicles, commercial trucks, robotics, mapping and defense.