Renaissance Technologies LLC Raises Stock Holdings in AEye, Inc. $LIDR

Renaissance Technologies LLC boosted its position in shares of AEye, Inc. (NASDAQ:LIDR) by 1,836.8% in the first quarter, HoldingsChannel.com reports. The fund owned 1,394,472 shares of the company’s stock after acquiring an additional 1,322,472 shares during the quarter. Renaissance Technologies LLC’s holdings in AEye were worth $2,524,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of AEye in the fourth quarter worth about $1,460,000. Bogart Wealth LLC purchased a new stake in AEye in the fourth quarter valued at approximately $166,000. UBS Group AG boosted its position in AEye by 657.5% in the third quarter. UBS Group AG now owns 307,696 shares of the company’s stock valued at $766,000 after buying an additional 267,075 shares during the last quarter. State Street Corp increased its holdings in AEye by 685.1% in the 4th quarter. State Street Corp now owns 1,573,781 shares of the company’s stock worth $2,896,000 after buying an additional 1,373,334 shares during the period. Finally, Vanguard Group Inc. increased its holdings in AEye by 819.6% in the 3rd quarter. Vanguard Group Inc. now owns 676,840 shares of the company’s stock worth $1,685,000 after buying an additional 603,241 shares during the period. Hedge funds and other institutional investors own 21.58% of the company’s stock.

AEye Price Performance

Shares of NASDAQ LIDR opened at $1.32 on Monday. The stock has a market capitalization of $61.13 million, a price-to-earnings ratio of -1.52 and a beta of 2.81. The firm’s 50 day simple moving average is $1.41 and its 200-day simple moving average is $1.67. AEye, Inc. has a 12 month low of $1.01 and a 12 month high of $4.00.

AEye (NASDAQ:LIDR) last posted its earnings results on Thursday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.18 million. AEye had a negative net margin of 7,786.44% and a negative return on equity of 41.66%.

Wall Street Analysts Forecast Growth

Several analysts have commented on LIDR shares. Wall Street Zen upgraded shares of AEye from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Craig Hallum assumed coverage on shares of AEye in a research note on Friday, April 24th. They issued a “buy” rating and a $3.50 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AEye in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.75.

AEye Company Profile

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.