AEye (NASDAQ:LIDR) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of AEye (NASDAQ:LIDR) from a sell rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “AEye Inc. is the premier provider of LiDAR for vehicle autonomy, advanced driver-assistance systems and robotic vision applications. AEye’s iDAR(TM) system leverages biomimicry and principles from automated targeting applications. AEye Inc., formerly known as CF Finance Acquisition Corp. III, is based in DUBLIN, Calif. “

LIDR has been the subject of a number of other reports. Roth Capital initiated coverage on shares of AEye in a report on Monday, October 25th. They issued a buy rating and a $15.00 price objective for the company. Guggenheim initiated coverage on shares of AEye in a report on Thursday, September 23rd. They set a buy rating and a $14.00 price target for the company. Finally, DA Davidson restated a buy rating on shares of AEye in a report on Friday, November 26th.

Shares of NASDAQ:LIDR opened at $3.42 on Wednesday. AEye has a 1 year low of $3.27 and a 1 year high of $13.98. The stock has a fifty day simple moving average of $5.24.

AEye (NASDAQ:LIDR) last issued its quarterly earnings data on Thursday, November 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.07). The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $0.60 million. On average, analysts anticipate that AEye will post -0.55 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP acquired a new position in shares of AEye during the third quarter valued at about $2,188,000. Millennium Management LLC acquired a new position in shares of AEye during the third quarter valued at about $1,149,000. Moore Capital Management LP acquired a new position in shares of AEye during the third quarter valued at about $2,190,000. BlueCrest Capital Management Ltd acquired a new position in shares of AEye during the third quarter valued at about $2,188,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of AEye during the third quarter valued at about $2,188,000.

AEye Company Profile

CF Finance Acquisition Corp. III is a blank check company. It formed for the purpose of merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CF Finance Acquisition Corp. III is based in New York.

Read More: Overweight

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