Aeva Technologies (NYSE:AEVA) Sees Large Volume Increase – Still a Buy?

Shares of Aeva Technologies, Inc. (NYSE:AEVA) saw strong trading volume on Monday . 1,710,952 shares traded hands during trading, an increase of 180% from the previous session’s volume of 610,942 shares.The stock last traded at $16.18 and had previously closed at $18.44.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Roth Capital lifted their price objective on Aeva Technologies from $6.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer lifted their price objective on Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday. Canaccord Genuity Group lifted their price objective on Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley lifted their price objective on Aeva Technologies from $5.22 to $11.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.33.

Aeva Technologies Trading Down 16.0%

The firm has a market capitalization of $851.72 million, a price-to-earnings ratio of -5.01 and a beta of 1.07. The firm has a fifty day moving average price of $7.36 and a 200 day moving average price of $5.28.

Insider Activity

In other Aeva Technologies news, CTO Mina Rezk sold 86,889 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $7.55, for a total transaction of $656,011.95. Following the completion of the sale, the chief technology officer now owns 8,296,669 shares in the company, valued at approximately $62,639,850.95. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen Paul Zadesky sold 14,851 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $3.50, for a total transaction of $51,978.50. Following the completion of the sale, the director now owns 83,764 shares of the company’s stock, valued at approximately $293,174. This represents a 15.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety 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. Insiders own 27.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AEVA. Jones Financial Companies Lllp increased its holdings in Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after purchasing an additional 5,469 shares in the last quarter. PFG Investments LLC bought a new position in Aeva Technologies during the 4th quarter worth about $48,000. Intech Investment Management LLC bought a new position in Aeva Technologies during the 4th quarter worth about $52,000. Squarepoint Ops LLC bought a new position in Aeva Technologies during the 4th quarter worth about $54,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Aeva Technologies during the fourth quarter worth about $63,000. 62.92% of the stock is owned by institutional investors and hedge funds.

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.