AEye downgraded yesterday at Guggenheim, says management needs ‘new plan’

As previously reported yesterday, Guggenheim downgraded AEye to Neutral from Buy and removed the firm’s previous $9 price target on the shares following the company’s quarterly report. The new management team "needs to show investors a credible plan for the company’s future," said the firm, which argues that it is "time for the new management team to be realistic," take steps to conserve remaining cash, stretch the time before the company needs new funding, and focus their efforts on a smaller number of high-priority projects.