Alliance Global Partners Initiates Coverage on AEye (NASDAQ:LIDR)

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.

Research analysts at Alliance Global Partners initiated coverage on shares of AEye (NASDAQ:LIDR - Get Free Report) in a research note issued to investors 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 100.33% from the company's current price.

Separately, Wall Street Zen cut AEye from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, AEye currently has an average rating of "Buy" and a consensus price target of $6.00.

AEye Price Performance

Shares of LIDR stock traded up $0.19 during trading hours on Monday, hitting $3.00. 4,211,001 shares of the company's stock were exchanged, compared to its average volume of 8,050,535. The company has a market capitalization of $119.62 million, a PE ratio of -1.05 and a beta of 2.98. AEye has a 12-month low of $0.49 and a 12-month high of $6.44. The business's 50 day simple moving average is $2.28 and its 200-day simple moving average is $1.24. The company has a current ratio of 1.93, a quick ratio of 1.91 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at AEye

In other news, Director Luis Dussan sold 38,900 shares of AEye stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $2.66, for a total value of $103,474.00. Following the sale, the director directly owned 199,932 shares in the company, valued at approximately $531,819.12. This trade represents a 16.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.93% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. bought a new position in shares of AEye in the 2nd quarter worth approximately $34,000. Geode Capital Management LLC raised its position 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 acquiring an additional 6,873 shares in the last quarter. Two Sigma Investments LP raised 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 acquiring an additional 61,437 shares in the last quarter. Millennium Management LLC bought a new position in shares of AEye in the 4th quarter worth approximately $32,000. Finally, Citadel Advisors LLC bought a new stake in shares of AEye in the 4th quarter worth approximately $92,000. Institutional investors 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.

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