AEye, Inc. (NASDAQ:LIDR) Short Interest Update

Key Points

• Short interest in AEye, Inc. has increased by 36.9% in August, reaching a total of 3,340,000 shares, which represents 9.2% of the company's stock.
• The company's analyst ratings currently show a consensus of "Buy" with an average target price of $6.00, despite a downgrade from "hold" to "sell" by Wall Street Zen.
• Insider Director Luis Dussan sold 33,616 shares, marking a 16.83% decrease in their position, amidst a total of 78,700 shares sold by insiders in the last ninety days.

AEye, Inc. (NASDAQ:LIDR - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 3,340,000 shares, a growth of 36.9% from the August 15th total of 2,440,000 shares. Based on an average daily volume of 18,390,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 9.2% of the shares of the stock are sold short. Currently, 9.2% of the shares of the stock are sold short. Based on an average daily volume of 18,390,000 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Several brokerages recently commented on LIDR. Wall Street Zen cut AEye from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Alliance Global Partners started coverage on AEye in a report on Monday, September 8th. They issued a "buy" rating and a $6.00 target price for the company. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $6.00.

Insider Activity at AEye

In related news, Director Luis Dussan sold 33,616 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $2.68, for a total transaction of $90,090.88. Following the completion of the sale, the director directly owned 166,132 shares in the company, valued at approximately $445,233.76. The trade was a 16.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 78,700 shares of company stock worth $218,117 in the last three months. 11.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AEye

Several large investors have recently modified their holdings of LIDR. Citadel Advisors LLC acquired a new position in shares of AEye in the 4th quarter valued at $92,000. Millennium Management LLC acquired a new position in shares of AEye in the 4th quarter valued at $32,000. Two Sigma Investments LP lifted its stake 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 valued at $95,000 after purchasing an additional 61,437 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $112,000 after purchasing an additional 6,873 shares during the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of AEye in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 21.58% of the company's stock.

AEye Trading Down 1.8%

Shares of AEye stock traded down $0.05 during trading hours on Friday, hitting $2.66. The company's stock had a trading volume of 3,147,744 shares, compared to its average volume of 4,102,951. AEye has a twelve month low of $0.49 and a twelve month high of $6.44. The firm has a fifty day moving average of $2.61 and a 200-day moving average of $1.38. The stock has a market cap of $106.24 million, a price-to-earnings ratio of -0.92 and a beta of 2.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.91 and a current ratio of 1.93.

AEye Company Profile

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.