AEye, Inc. (NASDAQ:LIDR), a global leader in adaptive, high-performance lidar solutions, is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, according to a preliminary list of additions posted June 3.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“Inclusion in the Russell indexes marks an important milestone for AEye and demonstrates the progress we have made as a public company,” said Bob Brown, CFO of AEye Inc. “We also believe that inclusion in the Russell indexes will broaden awareness of AEye within the institutional investor community and open up a large new category of potential investors. We welcome the increased visibility as we are confident that our unique business model and lidar-based intelligent sensing platform are market-leading differentiators that will drive significant value for our shareholders.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
