AEye (NASDAQ:LIDR) Cut to Neutral at DA Davidson

AEye (NASDAQ:LIDR – Get Rating) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.

AEye Price Performance

Shares of AEye stock traded up $0.01 during trading on Thursday, hitting $0.38. The stock had a trading volume of 550,671 shares, compared to its average volume of 559,815. The firm’s fifty day simple moving average is $0.63 and its 200-day simple moving average is $0.84. The stock has a market cap of $61.80 million, a PE ratio of -0.59 and a beta of 2.77. AEye has a 12 month low of $0.37 and a 12 month high of $6.33.

AEye (NASDAQ:LIDR – Get Rating) last released its earnings results on Wednesday, March 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $1.09 million during the quarter, compared to the consensus estimate of $1.10 million. AEye had a negative return on equity of 81.50% and a negative net margin of 2,706.72%. During the same quarter last year, the business posted ($0.15) EPS. Analysts expect that AEye will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG purchased a new position in AEye in the first quarter valued at about $26,000. Royal Bank of Canada grew its position in shares of AEye by 52.0% in the 1st quarter. Royal Bank of Canada now owns 9,651 shares of the company’s stock worth $53,000 after buying an additional 3,301 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of AEye during the 1st quarter worth approximately $57,000. Verition Fund Management LLC purchased a new stake in AEye during the second quarter valued at approximately $25,000. Finally, JPMorgan Chase & Co. boosted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 30.90% of the company’s stock.

AEye Company Profile

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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.