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

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

AEye Stock Performance

NASDAQ:LIDR traded down $0.01 during trading hours on Friday, reaching $0.44. The company’s stock had a trading volume of 183,264 shares, compared to its average volume of 543,179. The firm has a market capitalization of $70.09 million, a price-to-earnings ratio of -0.70 and a beta of 2.77. The firm has a 50-day simple moving average of $0.63 and a 200-day simple moving average of $0.86. AEye has a 1 year low of $0.40 and a 1 year high of $6.33.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson downgraded shares of AEye from a “buy” rating to a “neutral” rating in a report on Thursday. Guggenheim downgraded shares of AEye from a “buy” rating to a “neutral” rating in a report on Thursday.

Hedge Funds Weigh In On AEye

Large investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC purchased a new position in shares of AEye in the second quarter valued at about $25,000. UBS Group AG purchased a new position in shares of AEye in the first quarter valued at about $26,000. Voya Investment Management LLC purchased a new position in shares of AEye in the fourth quarter valued at about $27,000. JPMorgan Chase & Co. increased its position in shares of AEye by 240.5% in the second quarter. JPMorgan Chase & Co. now owns 14,660 shares of the company’s stock valued at $28,000 after acquiring an additional 10,354 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of AEye in the second quarter valued at about $30,000. Hedge funds and other 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.