AEye's (LIDR) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed its "sell (e+)" rating for AEye (NASDAQ:LIDR), indicating a lack of confidence in the stock's performance.
• Recent trading activity saw AEye's stock price increase by 7.0%, reaching $3.13 with notable trading volume.
• Insider activity includes a significant sale by Director Luis Dussan, who sold 38,900 shares, reflecting a 16.29% decrease in his ownership.

AEye (NASDAQ:LIDR - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

LIDR has been the subject of several other reports. Wall Street Zen downgraded shares of AEye from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Alliance Global Partners assumed coverage on AEye in a research note on Monday, September 8th. They issued a "buy" rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.00.

AEye Stock Up 7.0%

Shares of NASDAQ LIDR traded up $0.21 during trading on Wednesday, hitting $3.13. The stock had a trading volume of 7,986,477 shares, compared to its average volume of 7,613,653. The company has a market capitalization of $124.81 million, a PE ratio of -1.09 and a beta of 2.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.93 and a quick ratio of 1.91. AEye has a 12 month low of $0.49 and a 12 month high of $6.44. The firm has a fifty day moving average of $2.74 and a two-hundred day moving average of $1.54.

Insider Activity

In other news, Director Luis Dussan sold 38,900 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $2.66, for a total value of $103,474.00. Following the transaction, the director owned 199,932 shares in the company, valued at approximately $531,819.12. This trade represents a 16.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 78,700 shares of company stock valued at $218,117 in the last quarter. 11.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AEye

Several hedge funds and other institutional investors have recently modified their holdings of LIDR. Millennium Management LLC purchased a new position in AEye during the 4th quarter valued at about $32,000. Thompson Davis & CO. Inc. purchased a new stake in shares of AEye in the 2nd quarter worth about $34,000. Two Sigma Investments LP grew its position 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 buying an additional 61,437 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of AEye by 6.8% during the second quarter. Geode Capital Management LLC now owns 108,323 shares of the company's stock valued at $112,000 after purchasing an additional 6,873 shares during the last quarter. 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.

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