Aeva Technologies (NASDAQ:AEVA) Trading Up 11.9% – Here’s What Happened

Aeva Technologies, Inc. (NASDAQ:AEVAGet Free Report) shares were up 11.9% during trading on Monday . The stock traded as high as $15.21 and last traded at $15.19. Approximately 1,065,222 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 2,340,304 shares. The stock had previously closed at $13.57.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a report on Friday, March 27th. Wall Street Zen upgraded Aeva Technologies from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.50.

Get Our Latest Stock Report on Aeva Technologies

Aeva Technologies Stock Up 14.4%

The stock has a market cap of $978.08 million, a P/E ratio of -3.11 and a beta of 2.20. The company has a debt-to-equity ratio of 7.32, a quick ratio of 4.12 and a current ratio of 4.28. The firm’s 50-day moving average is $14.60 and its two-hundred day moving average is $14.33.

Insider Activity

In other news, CFO Saurabh Sinha sold 32,079 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the transaction, the chief financial officer owned 595,677 shares of the company’s stock, valued at $8,303,737.38. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Soroush Salehian Dardashti sold 41,083 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $617,888.32. Following the completion of the transaction, the chief executive officer owned 1,725,329 shares in the company, valued at approximately $25,948,948.16. This represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 106,194 shares of company stock valued at $1,561,871 over the last 90 days. 36.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

Institutional investors have recently modified their holdings of the business. Flight Deck Capital LP acquired a new position in Aeva Technologies in the third quarter valued at approximately $7,084,000. Delta Global Management LP acquired a new stake in Aeva Technologies during the 3rd quarter worth $18,139,000. Handelsbanken Fonder AB grew its holdings in Aeva Technologies by 3,299.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock worth $8,115,000 after acquiring an additional 543,173 shares during the period. Melqart Asset Management UK Ltd bought a new stake in shares of Aeva Technologies during the 3rd quarter valued at $5,471,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Aeva Technologies during the 3rd quarter valued at $610,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

About Aeva Technologies

(Get Free Report)

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.

Further Reading

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