AEye (NASDAQ:LIDR) Announces Earnings Results, Beats Estimates By $0.07 EPS

AEye (NASDAQ:LIDR) announced 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 firm had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.04 million. AEye had a negative return on equity of 219.93% and a negative net margin of 19,320.88%.

AEye Price Performance

Shares of NASDAQ LIDR traded up $0.08 during mid-day trading on Friday, hitting $2.40. 2,538,269 shares of the stock traded hands, compared to its average volume of 3,878,333. AEye has a twelve month low of $0.49 and a twelve month high of $6.44. The firm has a 50 day simple moving average of $2.69 and a two-hundred day simple moving average of $1.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.93 and a quick ratio of 1.91. The company has a market cap of $95.86 million, a PE ratio of -1.11 and a beta of 2.94.

Insider Activity

In related news, Director Luis Dussan sold 38,900 shares of AEye stock in a transaction that occurred 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 directly owned 199,932 shares in the company, valued at $531,819.12. This trade represents a 16.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 72,700 shares of company stock valued at $194,117 over the last three months. Corporate insiders own 11.93% of the company’s stock.

Institutional Investors Weigh In On AEye

An institutional investor recently raised its position in AEye stock. Vanguard Group Inc. lifted its position in shares of AEye, Inc. (NASDAQ:LIDR) by 819.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 676,840 shares of the company’s stock after purchasing an additional 603,241 shares during the period. Vanguard Group Inc. owned 1.69% of AEye worth $1,685,000 at the end of the most recent quarter. Institutional investors own 21.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Alliance Global Partners began coverage on shares of AEye in a research report on Monday, September 8th. They set a “buy” rating and a $6.00 price objective for the company. Wall Street Zen raised AEye from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AEye in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AEye currently has a consensus rating of “Hold” and an average 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.