AEye (NASDAQ:LIDR) Trading Up 27.8% – Here’s What Happened

AEye, Inc. (NASDAQ:LIDR) shares rose 27.8% during mid-day trading on Tuesday . The stock traded as high as $1.64 and last traded at $1.47. Approximately 129,096,922 shares were traded during trading, an increase of 14,866% from the average session volume of 862,627 shares. The stock had previously closed at $1.15.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of AEye in a research report on Wednesday, June 24th. Wall Street Zen raised AEye from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AEye currently has a consensus rating of “Hold” and an average price target of $4.75.

AEye Price Performance

The stock has a market capitalization of $68.34 million, a P/E ratio of -1.69 and a beta of 2.83. The company’s 50-day simple moving average is $1.26 and its 200-day simple moving average is $1.61.

AEye (NASDAQ:LIDR) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The company had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.18 million. AEye had a negative net margin of 7,786.44% and a negative return on equity of 42.98%.

Hedge Funds Weigh In On AEye

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Littlejohn & Co. LLC acquired a new position in AEye during the second quarter worth approximately $258,000. Renaissance Technologies LLC lifted its position in shares of AEye by 1,836.8% in the first quarter. Renaissance Technologies LLC now owns 1,394,472 shares of the company’s stock valued at $2,524,000 after buying an additional 1,322,472 shares during the last quarter. Connective Capital Management LLC acquired a new stake in shares of AEye in the fourth quarter valued at approximately $256,000. XTX Topco Ltd bought a new position in shares of AEye during the 4th quarter worth approximately $133,000. Finally, Millennium Management LLC bought a new position in shares of AEye during the 4th quarter worth approximately $64,000. Institutional investors own 21.58% of the company’s stock.

About AEye

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.