AEye (NASDAQ:LIDR) Trading 13.3% Higher - What's Next?

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.

Wall Street Analyst Weigh In

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

AEye Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.93 and a quick ratio of 1.91. The firm has a market capitalization of $112.63 million, a PE ratio of -0.98 and a beta of 3.00. The firm has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $1.16.

Insider Buying and Selling at AEye

In other news, Director Luis Dussan sold 38,900 shares of AEye stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $2.66, for a total transaction of $103,474.00. Following the transaction, the director directly owned 199,932 shares of the company's stock, valued at $531,819.12. The trade was a 16.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.93% of the stock is currently owned by insiders.

Institutional Trading of AEye

Several institutional investors and hedge funds have recently added to or reduced their stakes in LIDR. Citadel Advisors LLC bought a new stake in AEye during the 4th quarter valued at approximately $92,000. Two Sigma Investments LP increased its stake in AEye by 462.0% in the 4th quarter. Two Sigma Investments LP now owns 74,736 shares of the company's stock worth $95,000 after acquiring an additional 61,437 shares during the last quarter. Two Sigma Securities LLC bought a new stake in AEye in the 4th quarter worth approximately $66,000. Thompson Davis & CO. Inc. bought a new stake in AEye in the 2nd quarter worth approximately $34,000. Finally, Millennium Management LLC bought a new stake in AEye in the 4th quarter worth approximately $32,000. Institutional investors own 21.58% of the company's stock.

AEye Company Profile

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.