AEye (NASDAQ:LIDR) Shares Up 1.5% - Here's What Happened

Key Points

• AEye shares rose 1.5% in mid-day trading Thursday, briefly reaching $1.37 before last trading at $1.36, on lighter-than-normal volume.
• Recent analyst activity was mixed: Wall Street Zen upgraded AEye to hold, Weiss Ratings reiterated a sell, and Craig Hallum maintained a buy with a $3.50 price target. Overall, MarketBeat shows a consensus rating of Hold with a $4.75 price target.
• The company continues to face weak fundamentals, having recently reported a quarterly loss of $0.15 per share on just $0.10 million in revenue, missing expectations on both earnings and sales.

AEye, Inc. (NASDAQ:LIDR - Get Free Report)'s share price was up 1.5% during mid-day trading on Thursday . The company traded as high as $1.37 and last traded at $1.36. 291,209 shares changed hands 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

A number of research firms have recently commented on LIDR. Wall Street Zen upgraded shares of AEye from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AEye in a report on Wednesday, June 24th. Finally, Craig Hallum started coverage on shares of AEye in a report on Friday, April 24th. They issued a "buy" rating and a $3.50 price target for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.75.

AEye Price Performance

The stock has a market cap of $62.99 million, a P/E ratio of -1.20 and a beta of 2.79. The company has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $1.81.

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

Institutional Trading of AEye

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of AEye in the fourth quarter worth $1,460,000. Benjamin Edwards Inc. boosted its position in AEye by 14.1% during the 4th quarter. Benjamin Edwards Inc. now owns 470,070 shares of the company's stock valued at $865,000 after buying an additional 58,170 shares during the period. Bogart Wealth LLC bought a new stake in AEye in the 4th quarter worth $166,000. Millennium Management LLC bought a new stake in AEye in the 4th quarter worth $64,000. Finally, Jane Street Group LLC purchased a new position in shares of AEye in the fourth quarter valued at about $504,000. Hedge funds and other 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.

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