AEye (NASDAQ:LIDR) Trading 1.8% Higher - Here's What Happened

Key Points

• AEye, Inc. (NASDAQ:LIDR) shares increased by 1.8%, trading at $2.65, with a notable 37% rise in trading volume compared to the average.
• Wall Street Zen downgraded AEye from a "hold" to a "sell" rating on August 2nd, indicating a shift in analyst sentiment.
• Institutional investors have been active, with Geode Capital Management increasing its stake by 19.7%, while several others also acquired new positions during the fourth quarter.

Shares of AEye, Inc. (NASDAQ:LIDR - Get Free Report) were up 1.8% during trading on Tuesday . The company traded as high as $2.99 and last traded at $2.65. Approximately 11,297,744 shares were traded during trading, an increase of 37% from the average daily volume of 8,276,703 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of AEye from a "hold" rating to a "sell" rating in a research note 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 stock's fifty day moving average is $1.71 and its 200-day moving average is $1.05. The stock has a market capitalization of $101.65 million, a PE ratio of -0.88 and a beta of 3.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in AEye by 19.7% in the fourth quarter. Geode Capital Management LLC now owns 77,585 shares of the company's stock valued at $99,000 after acquiring an additional 12,779 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in AEye during the fourth quarter worth approximately $66,000. Citadel Advisors LLC purchased a new position in shares of AEye during the fourth quarter worth approximately $92,000. Millennium Management LLC purchased a new position in shares of AEye during the fourth quarter worth approximately $32,000. Finally, Two Sigma Investments LP grew its position in shares of AEye by 462.0% during the fourth 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. 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.

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