AEye (NASDAQ:LIDR) Shares Up 8.5% - What's Next?

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) 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 traded hands 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.

Wall Street Analyst Weigh In

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

AEye Stock Up 17.4%

The company has a market capitalization of $54.61 million, a PE ratio of -0.99 and a beta of 3.00. The firm has a 50 day simple moving average of $1.36 and a two-hundred day simple moving average of $0.94. The company has a current ratio of 2.50, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC acquired a new stake in shares of AEye in the fourth quarter valued at approximately $43,000. Geode Capital Management LLC grew its holdings in AEye by 19.7% in the 4th quarter. Geode Capital Management LLC now owns 77,585 shares of the company's stock valued at $99,000 after buying an additional 12,779 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of AEye during the 4th quarter valued at $66,000. Citadel Advisors LLC purchased a new position in shares of AEye in the 4th quarter worth about $92,000. Finally, Millennium Management LLC purchased a new stake in AEye during the fourth quarter worth approximately $32,000. 21.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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