AEye (NASDAQ:LIDR) Posts Earnings Results, Misses Estimates By $0.01 EPS

AEye (NASDAQ:LIDR – Get Rating) posted its quarterly earnings data on Wednesday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), Yahoo Finance reports. The company had revenue of $1.09 million during the quarter, compared to analyst estimates of $1.10 million. AEye had a negative return on equity of 70.52% and a negative net margin of 2,294.24%. During the same period in the prior year, the firm earned ($0.15) earnings per share.

AEye Stock Performance

Shares of NASDAQ LIDR traded down $0.03 during midday trading on Friday, hitting $0.41. 229,542 shares of the stock traded hands, compared to its average volume of 544,241. The company has a market cap of $66.29 million, a PE ratio of -0.70 and a beta of 2.77. AEye has a one year low of $0.40 and a one year high of $6.33. The business has a 50 day moving average price of $0.63 and a two-hundred day moving average price of $0.86.

Analysts Set New Price Targets

LIDR has been the topic of a number of recent analyst reports. Guggenheim lowered AEye from a “buy” rating to a “neutral” rating in a research note on Thursday. DA Davidson lowered AEye from a “buy” rating to a “neutral” rating in a research note on Thursday.

Institutional Investors Weigh In On AEye

Hedge funds and other institutional investors have recently modified their holdings of the company. Verition Fund Management LLC bought a new stake in shares of AEye during the second quarter valued at approximately $25,000. UBS Group AG bought a new stake in AEye during the first quarter worth $26,000. Voya Investment Management LLC bought a new stake in AEye during the fourth quarter worth $27,000. JPMorgan Chase & Co. grew its holdings in AEye by 240.5% during the second quarter. JPMorgan Chase & Co. now owns 14,660 shares of the company’s stock worth $28,000 after buying an additional 10,354 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in AEye during the second quarter worth $30,000. Institutional investors own 30.90% of the company’s stock.

About AEye

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AEye, Inc provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States, Europe, and Asia. It offers 4Sight A, a software-configurable lidar solution for automotive markets, including 4Sight at Design, Triggered 4Sight, or Responsive 4Sight software levels; and 4Sight M, a software-configurable lidar solution for the mobility and industrial markets, including 4Sight at Design, Triggered 4Sight, Responsive 4Sight, and Predictive 4Sight software levels.