AEye (NASDAQ:LIDR) Releases Earnings Results, Misses Expectations By $0.01 EPS

AEye (NASDAQ:LIDR – Get Rating) released its earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), Yahoo Finance reports. AEye had a negative net margin of 2,294.24% and a negative return on equity of 70.52%. During the same period in the prior year, the company earned ($0.15) EPS.

AEye Stock Up 1.4 %

Shares of LIDR stock opened at $0.43 on Thursday. AEye has a twelve month low of $0.42 and a twelve month high of $6.33. The company has a market cap of $70.01 million, a P/E ratio of -0.68 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 $0.86.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On AEye

Institutional investors and hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC acquired a new position in AEye in the 2nd quarter worth about $25,000. UBS Group AG acquired a new position in AEye in the 1st quarter worth about $26,000. Voya Investment Management LLC acquired a new position in AEye in the 4th quarter worth about $27,000. JPMorgan Chase & Co. increased its holdings 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in AEye in the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 30.90% of the company’s stock.

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.