Alliance Global Partners Initiates Coverage on AEye (NASDAQ:LIDR)

Investment analysts at Alliance Global Partners started coverage on shares of AEye (NASDAQ:LIDR) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $6.00 price target on the stock. Alliance Global Partners’ price target would indicate a potential upside of 107.61% from the stock’s previous close.

Separately, Wall Street Zen lowered AEye from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $6.00.

AEye Price Performance

Shares of NASDAQ LIDR opened at $2.89 on Monday. The stock has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $1.27. AEye has a 1-year low of $0.49 and a 1-year high of $6.44. The firm has a market cap of $115.43 million, a price-to-earnings ratio of -1.00 and a beta of 2.98. The company has a current ratio of 1.93, a quick ratio of 1.91 and a debt-to-equity ratio of 0.01.

Insider Activity

In other AEye news, Director Luis Dussan sold 38,900 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $2.66, for a total transaction of $103,474.00. Following the sale, the director owned 199,932 shares in the company, valued at $531,819.12. This represents a 16.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AEye

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new stake in shares of AEye during the fourth quarter worth $92,000. Millennium Management LLC purchased a new stake in shares of AEye during the fourth quarter worth $32,000. Two Sigma Investments LP lifted its position in shares of AEye by 462.0% during the fourth quarter. Two Sigma Investments LP now owns 74,736 shares of the company’s stock worth $95,000 after acquiring an additional 61,437 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AEye by 6.8% during the second quarter. Geode Capital Management LLC now owns 108,323 shares of the company’s stock worth $112,000 after acquiring an additional 6,873 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of AEye during the second quarter worth $34,000. Hedge funds and other institutional investors own 21.58% of the company’s stock.

About AEye

AEye, Inc, together with its subsidiaries, provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States, Europe, and Asia-Pacific. It offers 4Sight intelligent sensing lidar platform, including 4Sight at Design, Triggered 4Sight, Responsive 4Sight, and Predictive 4Sight; and 4Sight for automotive and industrial market.