AEye regains Nasdaq compliance as share price stays above $1

PLEASANTON, Calif. - AEye, Inc. (NASDAQ:LIDR), a lidar technology company with a market capitalization of $68.8 million, has regained compliance with Nasdaq’s minimum bid price requirement, the company announced Wednesday.

The Nasdaq Stock Market formally notified AEye that it had met the exchange’s listing standards after its share price remained above the $1.00 threshold for 10 consecutive business days from July 16 to July 29, well ahead of the September 8 deadline. The stock has shown remarkable momentum, posting a 200% return in the past week alone, according to InvestingPro data.

The compliance issue originated from a March 11 notice from Nasdaq, which required the company to bring its share price back above the minimum requirement to maintain its listing status.

AEye develops lidar technology, including its Apollo sensor, which the company describes as capable of detecting objects at distances of up to one kilometer. The company also offers a system called OPTIS that provides 3D imaging capabilities.

According to the press release statement, the matter is now closed, and AEye remains listed on the Nasdaq exchange. For deeper insights into AEye’s financial health and growth prospects, including 20 additional ProTips, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, AEye, Inc. has announced several significant developments. The company launched its OPTIS AI-powered lidar solution, which integrates its long-range Apollo lidar technology with NVIDIA’s Jetson Orin computing platform, enhancing capabilities in smart transportation, safety, and security applications. Additionally, AEye’s Apollo lidar system has been fully integrated into NVIDIA’s DRIVE AGX platform, providing access to a network of automakers developing autonomous vehicle technologies. This integration marks a milestone in deploying lidar technology in passenger vehicles.

AEye has also updated its at-the-market equity program, allowing up to $23.7 million in share sales, as disclosed in a filing with the Securities and Exchange Commission. Furthermore, the company announced a significant $30 million deal with a major transportation OEM for its Apollo lidar units, expected to generate revenue over the next 24 to 36 months. These recent developments highlight AEye’s progress in expanding its technology integration and market reach.

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