AEye (NASDAQ:LIDR) Shares Up 4.2% - Here's What Happened

Key Points

• AEye, Inc. (NASDAQ:LIDR) saw a 4.2% increase in stock price, trading as high as $3.16 before closing at $2.96, although the trading volume declined by 35% from its average.
• Wall Street analysts have downgraded AEye's rating from "hold" to "sell" shortly before the stock's recent price movement, indicating potential concern over its performance.
• Institutional investors have recently shown interest, with multiple firms purchasing new stakes, leading to institutional ownership of approximately 21.58% of the company's stock.

AEye, Inc. (NASDAQ:LIDR - Get Free Report) shares traded up 4.2% during trading on Friday . The stock traded as high as $3.16 and last traded at $2.96. 5,408,741 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 8,303,370 shares. The stock had previously closed at $2.84.

Analysts Set New Price Targets

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

AEye Stock Up 0.4%

The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.01. The company has a market cap of $54.04 million, a P/E ratio of -0.98 and a beta of 3.00. The company has a fifty day moving average of $1.52 and a 200 day moving average of $0.98.

Institutional Trading of AEye

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of AEye by 6.8% in the second quarter. Geode Capital Management LLC now owns 108,323 shares of the company's stock valued at $112,000 after acquiring an additional 6,873 shares in the last quarter. Millennium Management LLC purchased a new position in shares of AEye in the fourth quarter valued at about $32,000. Thompson Davis & CO. Inc. purchased a new position in shares of AEye in the second quarter valued at about $34,000. Two Sigma Securities LLC purchased a new position in shares of AEye in the fourth quarter valued at about $66,000. Finally, Two Sigma Investments LP lifted its position in shares of AEye by 462.0% in the fourth quarter. Two Sigma Investments LP now owns 74,736 shares of the company's stock valued at $95,000 after acquiring an additional 61,437 shares in the last quarter. 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.