AEye (NASDAQ:LIDR) Stock Rating Lowered by Guggenheim

AEye (NASDAQ:LIDR – Get Rating) was downgraded by research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Thursday, The Fly reports.

Separately, DA Davidson downgraded AEye from a “buy” rating to a “neutral” rating in a report on Thursday.

AEye Stock Down 17.2 %

Shares of NASDAQ LIDR opened at $0.37 on Thursday. AEye has a 12 month low of $0.37 and a 12 month high of $6.33. The company has a market cap of $59.54 million, a price-to-earnings ratio of -0.58 and a beta of 2.77. The business has a fifty day simple moving average of $0.63 and a 200-day simple moving average of $0.85.

AEye (NASDAQ:LIDR – Get Rating) last announced its earnings results on Wednesday, March 15th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). 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 analysts’ expectations of $1.10 million. During the same period in the prior year, the company earned ($0.15) earnings per share.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in AEye by 52.0% during the first quarter. Royal Bank of Canada now owns 9,651 shares of the company’s stock valued at $53,000 after buying an additional 3,301 shares during the period. UBS Group AG acquired a new position in AEye in the 1st quarter worth about $26,000. Legal & General Group Plc increased its position in AEye by 26.1% in the 2nd quarter. Legal & General Group Plc now owns 30,718 shares of the company’s stock worth $59,000 after purchasing an additional 6,366 shares during the last quarter. JPMorgan Chase & Co. increased its position in AEye by 240.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,660 shares of the company’s stock worth $28,000 after purchasing an additional 10,354 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in AEye by 77.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 23,924 shares of the company’s stock worth $46,000 after purchasing an additional 10,424 shares during the last quarter. 30.90% of the stock is owned by institutional investors and hedge funds.

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.