AEye (NASDAQ:LIDR) Stock Price Down 1.8% - Here's What Happened

Key Points

• AEye, Inc. (NASDAQ:LIDR) saw its shares decline by 1.8% during mid-day trading, with a last traded price of $2.45 and a significant drop in trading volume.
• Analysts at Wall Street Zen downgraded AEye's rating from "hold" to "sell" on August 2nd, impacting investor sentiment.
• Institutional investors now hold 21.58% of AEye's stock, with several hedge funds acquiring significant new stakes in the company.

AEye, Inc. (NASDAQ:LIDR - Get Free Report)'s share price traded down 1.8% during trading on Wednesday . The company traded as low as $2.37 and last traded at $2.45. 2,446,050 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 8,275,365 shares. The stock had previously closed at $2.49.

Wall Street Analysts Forecast Growth

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

AEye Price Performance

The firm has a market cap of $109.04 million, a PE ratio of -0.95 and a beta of 3.00. The stock's fifty day moving average price is $1.86 and its 200-day moving average price is $1.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.93 and a quick ratio of 1.91.

Institutional Investors Weigh In On AEye

Large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in AEye by 19.7% during the fourth 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 during the period. Two Sigma Securities LLC acquired a new position in AEye in the 4th quarter valued at about $66,000. Citadel Advisors LLC acquired a new position in AEye in the 4th quarter valued at about $92,000. Millennium Management LLC acquired a new position in AEye in the 4th quarter valued at about $32,000. Finally, Two Sigma Investments LP boosted its holdings in AEye by 462.0% in the 4th quarter. Two Sigma Investments LP now owns 74,736 shares of the company's stock valued at $95,000 after purchasing an additional 61,437 shares during the last quarter. Hedge funds and other institutional investors own 21.58% of the company's stock.

About AEye

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.