Renaissance Technologies LLC Buys 1,322,472 Shares of AEye, Inc. $LIDR

Key Points

• Renaissance Technologies increased its AEye stake by 1,836.8% in the first quarter, acquiring 1,322,472 additional shares and ending with a 3.07% ownership position worth approximately $2.52 million.
• Other institutional investors also added or initiated positions, including State Street, which raised its holdings by 685.1%; institutions collectively owned 21.58% of AEye.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $4.75 target price. AEye reported a quarterly loss of $0.17 per share, in line with estimates, and revenue of $0.20 million.

Renaissance Technologies LLC grew its stake in AEye, Inc. (NASDAQ:LIDR - Free Report) by 1,836.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,394,472 shares of the company's stock after acquiring an additional 1,322,472 shares during the quarter. Renaissance Technologies LLC owned about 3.07% of AEye worth $2,524,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Connective Capital Management LLC purchased a new stake in shares of AEye during the 4th quarter worth $256,000. XTX Topco Ltd purchased a new position in AEye in the fourth quarter valued at about $133,000. Millennium Management LLC bought a new position in AEye in the fourth quarter worth about $64,000. State Street Corp raised its holdings in AEye by 685.1% in the fourth quarter. State Street Corp now owns 1,573,781 shares of the company's stock worth $2,896,000 after purchasing an additional 1,373,334 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of AEye during the fourth quarter valued at about $504,000. 21.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LIDR. Craig Hallum initiated coverage on shares of AEye in a report on Friday, April 24th. They issued a "buy" rating and a $3.50 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of AEye in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised shares of AEye from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $4.75.

AEye Stock Performance

Shares of LIDR stock opened at $1.32 on Monday. AEye, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $4.00. The firm has a market capitalization of $61.13 million, a price-to-earnings ratio of -1.52 and a beta of 2.81. The stock's 50-day simple moving average is $1.41 and its 200-day simple moving average is $1.67.

AEye (NASDAQ:LIDR - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.18 million. AEye had a negative net margin of 7,786.44% and a negative return on equity of 41.66%.

AEye Profile

AEye, Inc is a technology company specializing in adaptive LiDAR (Light Detection and Ranging) systems designed to support advanced driver assistance systems (ADAS), autonomous vehicles and other sensing applications. Through its intelligent detection and ranging (iDAR) platform, AEye integrates high-performance sensors with real-time data processing software to deliver customizable sensing ‘pipelines' that prioritize relevant objects and environmental features. This approach enables longer detection ranges, higher resolution imagery and dynamic field-of-view adjustment, making AEye's offerings well suited for complex driving environments and safety-critical scenarios.

The company's core product suite centers on solid-state and hybrid LiDAR sensors that can be configured for a variety of end uses, including passenger vehicles, commercial trucks, robotics, mapping and defense.

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