AEye (NASDAQ:LIDR) Shares Up 13.3% - Here's Why

Key Points

• AEye, Inc. (NASDAQ:LIDR) shares surged by 13.3% to a high of $3.13, marking a significant increase from its previous close at $2.73.
• Wall Street Zen downgraded AEye from a "hold" to a "sell" rating on August 2nd, impacting investor sentiment.
• Institutional investors have recently increased their stakes in AEye, with Two Sigma Investments LP raising its position by 462% in the fourth quarter.

AEye, Inc. (NASDAQ:LIDR - Get Free Report)'s stock price shot up 13.3% on Monday . The stock traded as high as $3.13 and last traded at $3.09. 5,858,128 shares were traded during trading, a decline of 29% from the average session volume of 8,230,698 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut AEye from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd.

AEye Price Performance

The company has a fifty day simple moving average of $1.86 and a two-hundred day simple moving average of $1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.91 and a current ratio of 1.93. The stock has a market capitalization of $126.61 million, a price-to-earnings ratio of -1.11 and a beta of 3.00.

Hedge Funds Weigh In On AEye

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC bought a new position in shares of AEye in the 4th quarter valued at $32,000. Thompson Davis & CO. Inc. bought a new position in shares of AEye in the 2nd quarter valued at $34,000. Two Sigma Securities LLC bought a new position in shares of AEye in the 4th quarter valued at $66,000. Citadel Advisors LLC bought a new position in shares of AEye in the 4th quarter valued at $92,000. Finally, Two Sigma Investments LP increased its stake in shares of AEye by 462.0% in the 4th quarter. Two Sigma Investments LP now owns 74,736 shares of the company's stock valued at $95,000 after purchasing an additional 61,437 shares during the last quarter. Institutional investors 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.

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