Aeva Technologies (NASDAQ:AEVA) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Aeva Technologies (NASDAQ:AEVA) from a sell rating to a hold rating in a research note published on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aeva Technologies currently has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Performance

Shares of AEVA opened at $13.23 on Friday. Aeva Technologies has a twelve month low of $5.80 and a twelve month high of $38.80. The company has a current ratio of 4.28, a quick ratio of 4.12 and a debt-to-equity ratio of 7.32. The firm has a market capitalization of $832.83 million, a P/E ratio of -2.61 and a beta of 2.10. The firm’s 50-day moving average is $13.84 and its two-hundred day moving average is $14.64.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 32,079 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $13.94, for a total value of $447,181.26. Following the sale, the chief financial officer directly owned 595,677 shares of the company’s stock, valued at approximately $8,303,737.38. This represents a 5.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mina Rezk sold 64,787 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the transaction, the chief technology officer owned 1,469,760 shares of the company’s stock, valued at $27,704,976. This trade represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 242,262 shares of company stock worth $4,516,531 in the last three months. Corporate insiders own 27.20% of the company’s stock.

Institutional Trading of Aeva Technologies

Several large investors have recently modified their holdings of AEVA. Duquesne Family Office LLC acquired a new position in shares of Aeva Technologies during the 3rd quarter worth approximately $26,670,000. Millennium Management LLC purchased a new position in Aeva Technologies during the third quarter worth $25,751,000. Delta Global Management LP acquired a new position in shares of Aeva Technologies in the third quarter worth $18,139,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Aeva Technologies by 1,630.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,105,048 shares of the company’s stock worth $41,760,000 after acquiring an additional 1,041,176 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after acquiring an additional 885,774 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva’s core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company’s FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva’s systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.