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Why AEye Stock Exploded Higher on Wednesday

·2 min read
Why AEye Stock Exploded Higher on Wednesday
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Shares of AEye (NASDAQ: LIDR) surged sharply higher Wednesday, skyrocketing as much as 106.5%. The catalyst that sent the maker of light detection and ranging (LiDAR) systems and advanced driver-assist systems exploding higher was bullish commentary issued by a Wall Street analyst who began covering the stock. Roth Capital analyst Suji Desilva initiated coverage on AEye with a buy rating, while also issuing a price target of $15.