AEye (NASDAQ:LIDR) Now Covered by Alliance Global Partners

Key Points

• Alliance Global Partners has initiated coverage on AEye (NASDAQ:LIDR) with a "buy" rating and a price target of $6.00, indicating a potential upside of over 100% from its current price.
• Despite this, Wall Street Zen has downgraded AEye from a "hold" to a "sell" rating, reflecting mixed sentiments among analysts.
• Institutional investors have been active, with Two Sigma Investments LP increasing their stake in AEye by 462%, demonstrating significant interest in the company's potential growth.

Alliance Global Partners started coverage on shares of AEye (NASDAQ:LIDR - Get Free Report) in a report issued on Monday, MarketBeat reports. The firm set a "buy" rating and a $6.00 price target on the stock. Alliance Global Partners' target price would suggest a potential upside of 124.72% from the stock's previous close.

Separately, Wall Street Zen downgraded AEye from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, AEye has an average rating of "Buy" and a consensus price target of $6.00.

AEye Trading Up 0.8%

Shares of NASDAQ LIDR traded up $0.02 during midday trading on Monday, hitting $2.67. The company's stock had a trading volume of 2,823,606 shares, compared to its average volume of 5,514,733. 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 business's 50 day moving average is $2.45 and its two-hundred day moving average is $1.31. AEye has a 12-month low of $0.49 and a 12-month high of $6.44. The firm has a market cap of $106.64 million, a P/E ratio of -0.93 and a beta of 2.98.

Insider Buying and Selling

In other AEye news, Director Luis Dussan sold 38,900 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $2.66, for a total transaction of $103,474.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 78,700 shares of company stock worth $218,117. Company insiders own 11.93% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in AEye by 6.8% during 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. Millennium Management LLC bought a new stake in AEye during the 4th quarter valued at $32,000. Thompson Davis & CO. Inc. bought a new stake in AEye during the 2nd quarter valued at $34,000. Two Sigma Investments LP boosted its position in AEye by 462.0% during the 4th quarter. Two Sigma Investments LP now owns 74,736 shares of the company's stock valued at $95,000 after acquiring an additional 61,437 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in AEye during the 4th quarter valued at $92,000. 21.58% of the stock is currently owned by hedge funds and other 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.