Freedom Investment Management Inc. Has $3.27 Million Stake in Aeva Technologies, Inc. $AEVA

Freedom Investment Management Inc. lowered its stake in shares of Aeva Technologies, Inc. (NASDAQ:AEVA) by 24.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 86,546 shares of the company’s stock after selling 27,539 shares during the period. Freedom Investment Management Inc.’s holdings in Aeva Technologies were worth $3,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sylebra Capital LLC raised its holdings in shares of Aeva Technologies by 56.4% in the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company’s stock worth $113,600,000 after purchasing an additional 5,849,249 shares during the period. Informed Momentum Co LLC bought a new stake in Aeva Technologies during the 1st quarter valued at $781,000. Invesco Ltd. bought a new stake in Aeva Technologies during the 1st quarter valued at $325,000. American Century Companies Inc. increased its holdings in shares of Aeva Technologies by 81.5% in the first quarter. American Century Companies Inc. now owns 46,623 shares of the company’s stock worth $326,000 after purchasing an additional 20,934 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of Aeva Technologies in the second quarter worth $386,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Insider Activity

In related news, CFO Saurabh Sinha sold 36,658 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $13.80, for a total value of $505,880.40. Following the sale, the chief financial officer owned 774,052 shares in the company, valued at approximately $10,681,917.60. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $13.48, for a total transaction of $3,370,000.00. Following the completion of the sale, the chief technology officer owned 3,236,669 shares in the company, valued at $43,630,298.12. This represents a 7.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 646,658 shares of company stock worth $8,698,680 over the last 90 days. 27.20% of the stock is currently owned by insiders.

Aeva Technologies Stock Performance

Shares of NASDAQ AEVA opened at $16.45 on Thursday. Aeva Technologies, Inc. has a fifty-two week low of $2.52 and a fifty-two week high of $38.80. The company has a 50 day simple moving average of $15.64 and a two-hundred day simple moving average of $17.30. The company has a market capitalization of $926.60 million, a price-to-earnings ratio of -2.99 and a beta of 2.02.

Aeva Technologies (NASDAQ:AEVA) last announced its earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. The business had revenue of $5.51 million for the quarter, compared to the consensus estimate of $3.40 million. On average, analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AEVA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeva Technologies in a report on Wednesday, October 8th. Oppenheimer upped their price target on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Morgan Stanley upped their price target on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised shares of Aeva Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

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.