AEye (NASDAQ:LIDR) Trading Up 6.4% - Here's Why

Key Points

• AEye, Inc. shares increased by 6.4% during trading, reaching a last price of $2.99 after a previous close of $2.81.
• Analysts at Wall Street Zen downgraded AEye from a "hold" to a "sell" rating, indicating potential concerns about the company's future performance.
• Institutional investors are actively changing their positions in AEye, with notable investments including Citadel Advisors purchasing a new stake valued at approximately $92,000.

AEye, Inc. (NASDAQ:LIDR - Get Free Report)'s share price rose 6.4% on Tuesday . The company traded as high as $3.05 and last traded at $2.99. Approximately 2,857,395 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 8,270,888 shares. The stock had previously closed at $2.81.

Wall Street Analysts Forecast Growth

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

AEye Stock Performance

The business's fifty day moving average price is $1.68 and its 200-day moving average price is $1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.93 and a quick ratio of 2.49. The stock has a market capitalization of $48.84 million, a PE ratio of -0.88 and a beta of 3.00.

Institutional Trading of AEye

A number of hedge funds have recently made changes to their positions in LIDR. Citadel Advisors LLC bought a new position in shares of AEye during the 4th quarter valued at about $92,000. Two Sigma Investments LP raised its stake 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 acquiring an additional 61,437 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of AEye in the 4th quarter worth approximately $66,000. Thompson Davis & CO. Inc. bought a new stake in shares of AEye in the 2nd quarter worth approximately $34,000. Finally, Millennium Management LLC bought a new position in shares of AEye during the 4th quarter valued at $32,000. 21.58% of the stock is owned by institutional investors.

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.