AEye Inc. (LIDR) is looking forward to a strong quarter

AEye Inc. (NASDAQ: LIDR) stock jumped 8.17% on Monday to $0.67 against a previous-day closing price of $0.62. With 0.81 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.07 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.7049 whereas the lowest price it dropped to was $0.6100. The 52-week range on LIDR shows that it touched its highest point at $6.33 and its lowest point at $0.46 during that stretch. It currently has a 1-year price target of $5.75.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LIDR was up-trending over the past week, with a rise of 6.59%, but this was down by -1.39% over a month. Three-month performance dropped to -21.02% while six-month performance fell -66.79%. The stock lost -78.94% in the past year, while it has gained 38.91% so far this year. A look at the trailing 12-month EPS for LIDR yields -0.63 with Next year EPS estimates of -0.60. For the next quarter, that number is -0.15. This implies an EPS growth rate of -144.80% for this year and 6.30% for next year.

Float and Shares Shorts:

At present, 159.31 million LIDR shares are outstanding with a float of 139.15 million shares on hand for trading. On Dec 29, 2022, short shares totaled 6.87 million, which was 4.27% higher than short shares on Nov 29, 2022. In addition to Mr. Blair LaCorte as the firm’s CEO & Director, Mr. Luis C. Dussan serves as its Founder, CTO, Chief Product Strategist & Director.

Institutional Ownership:

Through their ownership of 41.13% of LIDR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.18% of LIDR, in contrast to 30.70% held by mutual funds. Shares owned by individuals account for 14.03%. As the largest shareholder in LIDR with 4.29% of the stake, Intel Corp. holds 6,911,944 shares worth 6,911,944. A second-largest stockholder of LIDR, The Vanguard Group, Inc., holds 6,860,443 shares, controlling over 4.26% of the firm’s shares. Cantor Fitzgerald & Co. is the third largest shareholder in LIDR, holding 3,426,000 shares or 2.13% stake. With a 2.02% stake in LIDR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,258,500 shares are owned by the mutual fund manager. The Vanguard Information Technology I, which owns about 1.21% of LIDR stock, is the second-largest Mutual Fund holder. It holds 1,948,819 shares valued at 0.94 million. iShares Russell 2000 ETF holds 1.03% of the stake in LIDR, owning 1,661,250 shares worth 0.8 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, LIDR reported revenue of $706.00k and operating income of -$26.63M. The EBITDA in the recently reported quarter was -$26.34M and diluted EPS was -$0.17.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LIDR since 4 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LIDR analysts setting a high price target of $9.00 and a low target of $1.00, the average target price over the next 12 months is $5.75. Based on these targets, LIDR could surge 1243.28% to reach the target high and rise by 49.25% to reach the target low. Reaching the average price target will result in a growth of 758.21% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LIDR will report FY 2022 earnings on 03/25/2024. Analysts have provided yearly estimates in a range of -$0.49 being high and -$0.63 being low. For LIDR, this leads to a yearly average estimate of -$0.54. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. AEye Inc. surprised analysts by $0.05 when it reported -$0.11 EPS against a consensus estimate of -$0.16. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.13 and the low estimate is -$0.15. The average estimate for the next quarter is thus -$0.14.

Summary of Insider Activity:

Insiders traded LIDR stock several times over the past three months with 10 Buys and 8 Sells. In these transactions, 200,290 shares were bought while 288,544 shares were sold. The number of buy transactions has increased to 32 while that of sell transactions has risen to 52 over the past year. The total number of shares bought during that period was 2,419,953 while 20,486,897 shares were sold.

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