AEye (NASDAQ:LIDR) Posts Earnings Results, Beats Expectations By $0.07 EPS

AEye (NASDAQ:LIDR) issued its quarterly earnings results on Thursday. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07, FiscalAI reports. The company had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.04 million. AEye had a negative net margin of 19,320.88% and a negative return on equity of 219.93%.

AEye Price Performance

AEye stock traded up $0.08 during midday trading on Friday, hitting $2.40. 2,538,269 shares of the company’s stock were exchanged, compared to its average volume of 3,878,333. The company has a market cap of $95.86 million, a P/E ratio of -1.11 and a beta of 2.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.91 and a current ratio of 1.93. The stock has a 50-day moving average price of $2.69 and a two-hundred day moving average price of $1.88. AEye has a 52-week low of $0.49 and a 52-week high of $6.44.

Insider Buying and Selling at AEye

In other news, Director Luis Dussan sold 38,900 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were 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 approximately $531,819.12. This trade represents a 16.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 72,700 shares of company stock valued at $194,117 in the last quarter. 11.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AEye

A hedge fund recently raised its stake in AEye stock. Geode Capital Management LLC lifted its position in AEye, Inc. (NASDAQ:LIDR) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,323 shares of the company’s stock after purchasing an additional 6,873 shares during the quarter. Geode Capital Management LLC owned 0.56% of AEye worth $112,000 at the end of the most recent quarter. Institutional investors own 21.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LIDR. Alliance Global Partners started coverage on shares of AEye in a research report on Monday, September 8th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of AEye in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised AEye from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

AEye Company Profile

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.