AEye (NASDAQ:LIDR) Trading Down 2.3% on Insider Selling

Key Points

• AEye's stock price fell 2.3% to $3.21 following the insider sale of 38,900 shares by Director Luis Dussan, representing a 16.29% decrease in his position.
• Wall Street Zen downgraded AEye from a "hold" to a "sell" rating on August 2nd, signaling a negative outlook for the stock.
• Institutional investors own 21.58% of AEye's stock, with notable hedge fund activities including Geode Capital Management increasing its holdings by 6.8% during the second quarter.

AEye, Inc. (NASDAQ:LIDR - Get Free Report)'s stock price dropped 2.3% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $3.08 and last traded at $3.21. Approximately 2,537,678 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 8,272,473 shares. The stock had previously closed at $3.28.

Specifically, Director Luis Dussan sold 38,900 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $2.66, for a total value of $103,474.00. Following the completion of the sale, the director directly owned 199,932 shares in the company, valued at $531,819.12. This trade represents a 16.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

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

AEye Stock Performance

The company's 50-day simple moving average is $1.91 and its 200 day simple moving average is $1.11. The company has a current ratio of 1.93, a quick ratio of 1.91 and a debt-to-equity ratio of 0.01. The stock has a market cap of $127.33 million, a P/E ratio of -1.11 and a beta of 3.00.

Hedge Funds Weigh In On AEye

Several hedge funds have recently modified their holdings of LIDR. Geode Capital Management LLC raised its holdings in shares of AEye by 6.8% in the 2nd quarter. Geode Capital Management LLC now owns 108,323 shares of the company's stock worth $112,000 after purchasing an additional 6,873 shares during the period. Two Sigma Investments LP raised its holdings in shares of AEye by 462.0% in the 4th 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. Citadel Advisors LLC bought a new stake in shares of AEye in the 4th quarter worth approximately $92,000. Two Sigma Securities LLC bought a new stake in shares of AEye in the 4th quarter worth approximately $66,000. Finally, Thompson Davis & CO. Inc. bought a new stake in shares of AEye in the 2nd quarter worth approximately $34,000. 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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