RTTNews | Oct 26, 2021 01:22PM EDT

13:21 Tuesday, October 26, 2021 (RTTNews.com) - Shares of AEye, Inc. (LIDR) nearly doubled on Tuesday morning. LIDR is currently trading at $8.70, up $4.25 or 95.51%, on the Nasdaq.

AEye develops vision hardware, software, and algorithms for autonomous vehicles. The company offers sensors, such as 4Sight A and 4Sight M.

Roth Capital has initiated coverage of AEye with a Buy rating and $15 price target, implying a 257% upside.

AEye recently went public via merger with special purpose acquisition company CF Finance Acquisition Corp. III.

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