AEye (NASDAQ:LIDR) Trading 4.2% Higher - Here's Why

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) traded up 4.2% on Friday . The stock traded as high as $3.16 and last traded at $2.96. 5,408,741 shares changed 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.

Wall Street Analyst Weigh In

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 business's 50 day moving average price is $1.43 and its 200 day moving average price is $0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.50 and a quick ratio of 2.49. The stock has a market capitalization of $53.18 million, a P/E ratio of -0.97 and a beta of 3.00.

Institutional Trading of AEye

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in AEye in the fourth quarter valued at $32,000. Thompson Davis & CO. Inc. purchased a new stake in shares of AEye during the second quarter worth $34,000. Commonwealth Equity Services LLC purchased a new position in shares of AEye in the 4th quarter valued at about $43,000. Two Sigma Securities LLC purchased a new position in shares of AEye during the fourth quarter worth about $66,000. Finally, Citadel Advisors LLC acquired a new stake in AEye during the 4th quarter worth $92,000. 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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