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AEye (NASDAQ:LIDR) Shares Down 16% - Should You Sell?

AEye logo with Computer and Technology background

Shares of AEye, Inc. (NASDAQ:LIDR - Get Free Report) fell 16% on Tuesday . The company traded as low as $3.40 and last traded at $3.40. 29,689,822 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 43,638,440 shares. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of AEye from a "sell" rating to a "hold" rating in a report on Saturday, June 7th.

View Our Latest Research Report on AEye

AEye Trading Up 3.2%

The stock has a market capitalization of $67.50 million, a P/E ratio of -0.99 and a beta of 2.77. The firm's 50-day simple moving average is $1.13 and its 200 day simple moving average is $0.88. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On AEye

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP raised 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 purchasing an additional 61,437 shares during the period. Millennium Management LLC acquired a new stake in shares of AEye during the fourth quarter valued at approximately $32,000. Citadel Advisors LLC acquired a new stake in shares of AEye during the fourth quarter valued at approximately $92,000. Two Sigma Securities LLC acquired a new position in AEye in the 4th quarter worth approximately $66,000. Finally, Geode Capital Management LLC grew its position in AEye by 19.7% during the 4th quarter. Geode Capital Management LLC now owns 77,585 shares of the company's stock worth $99,000 after purchasing an additional 12,779 shares in the last quarter. Institutional investors and hedge funds own 21.58% of the company's stock.

About AEye

(Get Free Report)

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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