AEye (NASDAQ:LIDR) Stock Price Up 1.5% – Here’s What Happened

AEye, Inc. (NASDAQ:LIDR) traded up 1.5% during mid-day trading on Thursday . The stock traded as high as $1.37 and last traded at $1.36. 291,209 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,147,007 shares. The stock had previously closed at $1.34.

Analyst Upgrades and Downgrades

LIDR has been the topic of a number of research analyst reports. Craig Hallum assumed coverage on AEye in a report on Friday, April 24th. They set a “buy” rating and a $3.50 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AEye in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded AEye from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, AEye currently has a consensus rating of “Hold” and a consensus price target of $4.75.

AEye Trading Up 1.5%

The business’s 50 day moving average price is $1.74 and its two-hundred day moving average price is $1.81. The stock has a market cap of $62.99 million, a P/E ratio of -1.20 and a beta of 2.79.

AEye (NASDAQ:LIDR) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). AEye had a negative net margin of 12,698.89% and a negative return on equity of 49.42%. The company had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.28 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in shares of AEye by 1,836.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,394,472 shares of the company’s stock valued at $2,524,000 after purchasing an additional 1,322,472 shares during the period. Connective Capital Management LLC purchased a new stake in AEye in the fourth quarter worth $256,000. XTX Topco Ltd purchased a new stake in AEye in the fourth quarter worth $133,000. Millennium Management LLC bought a new position in AEye in the fourth quarter worth $64,000. Finally, State Street Corp lifted its position in AEye by 685.1% during the fourth quarter. State Street Corp now owns 1,573,781 shares of the company’s stock valued at $2,896,000 after buying an additional 1,373,334 shares during the period. Institutional investors own 21.58% of the company’s stock.

About AEye

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.