Aeva Technologies (NYSE:AEVA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Aeva Technologies (NYSE:AEVA) had its target price hoisted by analysts at Canaccord Genuity Group from $9.50 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 10.73% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Oppenheimer increased their target price on shares of Aeva Technologies from $6.00 to $9.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Morgan Stanley lifted their price objective on Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.60.

Aeva Technologies Stock Performance

Aeva Technologies stock opened at $14.45 on Thursday. Aeva Technologies has a one year low of $2.20 and a one year high of $14.47. The company has a market cap of $794.89 million, a P/E ratio of -4.68 and a beta of 1.07. The business has a fifty day moving average of $6.75 and a two-hundred day moving average of $5.08.

Insider Activity

In related news, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $5.36, for a total value of $1,072,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,764,808 shares in the company, valued at approximately $20,179,370.88. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 990,411 shares of Aeva Technologies stock in a transaction on Monday, March 24th. The shares were bought at an average price of $4.36 per share, for a total transaction of $4,318,191.96. Following the purchase, the insider now owns 11,369,715 shares of the company’s stock, valued at $49,571,957.40. This represents a 9.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 4,213,506 shares of company stock valued at $24,985,345 and sold 652,079 shares valued at $3,947,397. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFG Investments LLC bought a new position in Aeva Technologies during the 4th quarter valued at $48,000. Intech Investment Management LLC acquired a new position in Aeva Technologies during the 4th quarter worth $52,000. Squarepoint Ops LLC acquired a new position in Aeva Technologies during the 4th quarter valued at about $54,000. Susquehanna Fundamental Investments LLC bought a new stake in Aeva Technologies during the fourth quarter worth approximately $63,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Aeva Technologies in the fourth quarter valued at $78,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.