AEye (NASDAQ:LIDR) Trading 7.8% Higher - What's Next?

Key Points

• AEye's stock price rose by 7.8% during mid-day trading, closing at $2.71 after reaching a high of $3.16.
• Wall Street Zen downgraded AEye from a "hold" rating to a "sell" rating, indicating bearish sentiment from analysts.
• Institutional investors have increased their stakes in AEye, with significant purchases in the fourth quarter, suggesting growing interest from large investment firms.

AEye, Inc. (NASDAQ:LIDR - Get Free Report) was up 7.8% during mid-day trading on Tuesday . The company traded as high as $3.16 and last traded at $2.71. Approximately 23,931,779 shares traded hands during mid-day trading, an increase of 188% from the average daily volume of 8,303,587 shares. The stock had previously closed at $2.51.

Wall Street Analyst Weigh In

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

AEye Price Performance

The company has a market capitalization of $56.45 million, a P/E ratio of -1.02 and a beta of 3.00. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.01. The business has a 50 day simple moving average of $1.43 and a 200-day simple moving average of $0.96.

Institutional Investors Weigh In On AEye

Several large investors have recently made changes to their positions in LIDR. Commonwealth Equity Services LLC bought a new position in AEye in the 4th quarter worth approximately $43,000. Geode Capital Management LLC raised its stake in shares of AEye by 19.7% during the fourth quarter. Geode Capital Management LLC now owns 77,585 shares of the company's stock valued at $99,000 after purchasing an additional 12,779 shares in the last quarter. Two Sigma Securities LLC bought a new position in AEye in the 4th quarter valued at about $66,000. Citadel Advisors LLC acquired a new position in AEye during the 4th quarter valued at about $92,000. Finally, Millennium Management LLC bought a new stake in shares of AEye during the 4th quarter worth about $32,000. Institutional investors and hedge funds 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.