AEye (NASDAQ:LIDR) Trading Down 1.1% - Time to Sell?

Key Points

• AEye's stock price declined 1.1%, closing at $2.77, with a notable 72% drop in trading volume compared to the average session.
• Wall Street Zen has downgraded AEye's rating from "hold" to "sell," suggesting negative sentiment among analysts.
• Institutional investors hold 21.58% of AEye's stock, with significant recent transactions indicating varying levels of interest in the company.

AEye, Inc. (NASDAQ:LIDR - Get Free Report)'s share price dropped 1.1% during mid-day trading on Monday . The stock traded as low as $2.60 and last traded at $2.77. Approximately 2,307,340 shares traded hands during trading, a decline of 72% from the average daily volume of 8,282,966 shares. The stock had previously closed at $2.80.

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 Stock Performance

The company's fifty day moving average price is $1.52 and its two-hundred day moving average price is $0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.50. The firm has a market capitalization of $59.23 million, a PE ratio of -1.06 and a beta of 3.00.

Institutional Investors Weigh In On AEye

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted 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 worth $112,000 after acquiring an additional 6,873 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of AEye in the fourth quarter worth approximately $32,000. Thompson Davis & CO. Inc. acquired a new stake in shares of AEye in the second quarter worth approximately $34,000. Two Sigma Securities LLC acquired a new stake in shares of AEye in the fourth quarter worth approximately $66,000. Finally, Two Sigma Investments LP boosted 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 worth $95,000 after acquiring an additional 61,437 shares during the last quarter. 21.58% of the stock is 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.