Short Interest in AEye, Inc. (NASDAQ:LIDR) Declines By 34.7%

AEye, Inc. (NASDAQ:LIDR) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 3,031,762 shares, a decrease of 34.7% from the May 14th total of 4,640,690 shares. Based on an average daily trading volume, of 983,420 shares, the days-to-cover ratio is currently 3.1 days. Approximately 7.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On AEye

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in AEye in the 3rd quarter worth about $33,000. Flputnam Investment Management Co. acquired a new stake in shares of AEye in the fourth quarter valued at about $40,000. Millennium Management LLC acquired a new stake in shares of AEye in the fourth quarter valued at about $64,000. Two Sigma Investments LP acquired a new stake in shares of AEye in the third quarter valued at about $95,000. Finally, Geode Capital Management LLC increased its stake in shares of AEye by 6.8% in the second quarter. Geode Capital Management LLC now owns 108,323 shares of the company’s stock valued at $112,000 after buying an additional 6,873 shares during the period. Institutional investors and hedge funds own 21.58% of the company’s stock.

AEye Stock Up 2.3%

Shares of LIDR opened at $1.56 on Thursday. AEye has a 12-month low of $0.71 and a 12-month high of $6.44. The business has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $1.93. The stock has a market cap of $72.01 million, a PE ratio of -1.38 and a beta of 2.75.

AEye (NASDAQ:LIDR) last issued its earnings results on Wednesday, May 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). AEye had a negative return on equity of 49.42% and a negative net margin of 12,698.89%.The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.28 million.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of AEye in a research report on Friday, March 27th. Wall Street Zen upgraded AEye from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Craig Hallum assumed coverage on AEye in a research report on Friday, April 24th. They set a “buy” rating and a $3.50 price objective for the company. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.75.

About AEye

AEye, Inc is a technology company specializing in adaptive LiDAR (Light Detection and Ranging) systems designed to support advanced driver assistance systems (ADAS), autonomous vehicles and other sensing applications. Through its intelligent detection and ranging (iDAR) platform, AEye integrates high-performance sensors with real-time data processing software to deliver customizable sensing ‘pipelines’ that prioritize relevant objects and environmental features. This approach enables longer detection ranges, higher resolution imagery and dynamic field-of-view adjustment, making AEye’s offerings well suited for complex driving environments and safety-critical scenarios.

The company’s core product suite centers on solid-state and hybrid LiDAR sensors that can be configured for a variety of end uses, including passenger vehicles, commercial trucks, robotics, mapping and defense.