AEye (NASDAQ:LIDR) Trading 8.5% Higher - Here's Why

Key Points

• AEye, Inc. stock increased by **8.5%** during mid-day trading, reaching a high of **$2.65**, though the trading volume was significantly lower than average.
• Wall Street Zen downgraded AEye from a **"hold"** to a **"sell"** rating, indicating a bearish outlook on the company’s stock performance.
• Institutional ownership stands at **21.58%**, with recent investments from several firms, suggesting some investor confidence despite the downgrade.

AEye, Inc. (NASDAQ:LIDR - Get Free Report)'s share price shot up 8.5% during mid-day trading on Thursday . The stock traded as high as $2.65 and last traded at $2.63. 2,617,530 shares were traded during mid-day trading, a decline of 68% from the average session volume of 8,291,933 shares. The stock had previously closed at $2.42.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of AEye from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd.

AEye Stock Performance

The business's fifty day moving average price is $1.47 and its 200-day moving average price is $0.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.50. The stock has a market cap of $53.84 million, a PE ratio of -0.97 and a beta of 3.00.

Institutional Trading of AEye

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in shares of AEye during the 4th quarter valued at about $32,000. Thompson Davis & CO. Inc. purchased a new position in shares of AEye in the second quarter worth approximately $34,000. Commonwealth Equity Services LLC purchased a new position in shares of AEye in the fourth quarter worth approximately $43,000. Two Sigma Securities LLC purchased a new position in shares of AEye in the fourth quarter worth approximately $66,000. Finally, Citadel Advisors LLC purchased a new position in shares of AEye in the fourth quarter worth approximately $92,000. Hedge funds and other 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.