The Vanguard Group, Inc. recently announced the acquisition of new stake in AEye Inc. (NASDAQ:LIDR). The institutional investor has increased its shareholding in the Consumer Cyclical company by 5.20% to 7.22 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 4.28% valued currently at $1.44 million. In addition, Mirador Capital Partners LP raised its holdings by 0.62 million to 3.64 million shares. And Geode Capital Management LLC has lifted its position by 49.43% or 0.66 million shares – to 2.01 million shares.
With over 1.45 million AEye Inc. (LIDR) shares trading Tuesday and a closing price of $0.20 on the day, the dollar volume was approximately $0.29 million. The shares have shown a negative half year performance of -76.50% and its price on 05/23/23 gained nearly 5.26%. Currently, there are 165.87M common shares owned by the public and among those 145.07M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for LIDR have a consensus price objective of $0.21. The analysts have set the share’s price value over the next 12 months at a high of $0.21 and a low of $0.21. The average price target is 80.0% above its recent price level and an upside to the estimated low will see the stock gain 4.76% over that period. But an upside of 4.76% will see the stock hit the forecast high price target while median target price for the stock is $0.21.
Insiders at the company have transacted a total of 79 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 15,346,951 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 20,642,678 shares.
The top 3 mutual fund holders in AEye Inc. are Vanguard Total Stock Market ETF, Vanguard Information Technology I, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 3.26 million shares of the company’s stock, all valued at over $0.65 million. Vanguard Information Technology I bought 10134.0 shares to see its total holdings expand to 1.93 million shares valued at over $0.38 million and representing 1.14% of the shares outstanding. iShares Russell 2000 ETF sold 22720.0 shares to bring its total holdings to over 1.55 million shares at a value of $0.31 million. iShares Russell 2000 ETF now owns shares totaling to 0.92% of the shares outstanding.
However, the script later moved the day high at 0.2020, up 5.26%. The company’s stock has a 5-day price change of 0.05% and -68.80% over the past three months. LIDR shares are trading -58.39% year to date (YTD), with the 12-month market performance down to -96.18% lower. It has a 12-month low price of $0.16 and touched a high of $6.33 over the same period. LIDR has an average intraday trading volume of 1.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.31%, -23.99%, and -75.87% respectively.
Institutional ownership of AEye Inc. (NASDAQ: LIDR) shares accounts for 41.10% of the company’s 165.87M shares outstanding. Mutual fund holders own 38.22%, while other institutional holders and individual stakeholders account for 8.34% and 13.62% respectively.
It has a market capitalization of $37.78M. The earnings-per-share (ttm) stands at -$0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.66% over the week and 12.33% over the month.
Analysts forecast that AEye Inc. (LIDR) will achieve an EPS of -$0.09 for the current quarter, -$0.09 for the next quarter and -$0.38 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.09. Comparatively, EPS for the current quarter was -$0.17 a year ago. Earnings per share for the fiscal year are expected to decrease by -60.30%, and -3.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate AEye Inc. (LIDR) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
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