Aeva Technologies, Inc. (NASDAQ:AEVA – Get Free Report) shares rose 6.5% on Wednesday . The company traded as high as $24.07 and last traded at $23.60. Approximately 434,293 shares traded hands during trading, a decline of 82% from the average daily volume of 2,449,133 shares. The stock had previously closed at $22.17.
Wall Street Analyst Weigh In
A number of analysts have issued reports on AEVA shares. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aeva Technologies presently has an average rating of “Hold” and a consensus price target of $26.50.
Get Our Latest Stock Analysis on AEVA
Aeva Technologies Stock Performance
Insider Transactions at Aeva Technologies
In related news, CEO Soroush Salehian Dardashti sold 41,083 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $617,888.32. Following the completion of the sale, the chief executive officer directly owned 1,725,329 shares in the company, valued at $25,948,948.16. The trade was a 2.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 27,389 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $411,930.56. Following the completion of the sale, the chief technology officer owned 1,442,371 shares of the company’s stock, valued at $21,693,259.84. This trade represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 74,115 shares of company stock worth $1,114,690. 36.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On Aeva Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Duquesne Family Office LLC bought a new position in Aeva Technologies in the third quarter valued at approximately $26,670,000. Millennium Management LLC bought a new position in Aeva Technologies in the third quarter valued at approximately $25,751,000. Delta Global Management LP acquired a new position in shares of Aeva Technologies during the 3rd quarter worth $18,139,000. Handelsbanken Fonder AB raised its holdings in shares of Aeva Technologies by 158.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after buying an additional 885,774 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Aeva Technologies by 1,223.8% during the 2nd quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock worth $23,219,000 after buying an additional 567,998 shares in the last quarter. 62.92% of the stock is 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.
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