AEye (NASDAQ:LIDR) Stock Price Down 1.8% - What's Next?

Key Points

• AEye (NASDAQ:LIDR) shares declined by 1.8%, trading between $3.12 and $3.23, with a significant drop in trading volume.
• The company was downgraded from a "hold" to a "sell" rating by Wall Street Zen in an August report.
• Recently, several institutional investors increased their stakes in AEye, with notable acquisitions including Two Sigma Investments LP, which boosted its holdings by 462%.

AEye, Inc. (NASDAQ:LIDR - Get Free Report) shares fell 1.8% during trading on Wednesday . The stock traded as low as $3.12 and last traded at $3.23. 2,906,911 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 8,263,952 shares. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

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

AEye Stock Down 10.9%

The company has a current ratio of 1.93, a quick ratio of 1.91 and a debt-to-equity ratio of 0.01. The firm's 50 day simple moving average is $1.96 and its 200-day simple moving average is $1.13. The stock has a market capitalization of $117.10 million, a price-to-earnings ratio of -1.02 and a beta of 3.00.

Insider Activity

In other news, Director Luis Dussan sold 38,900 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $2.66, for a total value of $103,474.00. Following the sale, the director directly owned 199,932 shares of the company's stock, valued at approximately $531,819.12. This represents a 16.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.93% of the company's stock.

Institutional Investors Weigh In On AEye

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC bought a new stake in shares of AEye in the 4th quarter valued at about $32,000. Thompson Davis & CO. Inc. bought a new stake in shares of AEye in the 2nd quarter valued at about $34,000. Two Sigma Securities LLC bought a new stake in shares of AEye in the 4th quarter valued at about $66,000. Citadel Advisors LLC bought a new stake in shares of AEye in the 4th quarter valued at about $92,000. Finally, Two Sigma Investments LP boosted its holdings in shares of AEye by 462.0% during the 4th quarter. Two Sigma Investments LP now owns 74,736 shares of the company's stock worth $95,000 after buying an additional 61,437 shares during the period. 21.58% of the stock is owned by institutional investors.

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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