Aeva Technologies (NASDAQ:AEVA) Trading 9.3% Higher – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVAGet Free Report) traded up 9.3% on Monday . The stock traded as high as $22.99 and last traded at $22.84. Approximately 319,808 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,416,685 shares. The stock had previously closed at $20.89.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Aeva Technologies has an average rating of “Hold” and an average target price of $25.33.

Read Our Latest Report on Aeva Technologies

Aeva Technologies Stock Up 15.3%

The company’s 50 day simple moving average is $20.99 and its 200-day simple moving average is $16.83. The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09. The firm has a market capitalization of $1.52 billion, a PE ratio of -4.83 and a beta of 2.41.

Aeva Technologies (NASDAQ:AEVAGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.12. The firm had revenue of $6.26 million during the quarter. Aeva Technologies had a negative net margin of 693.94% and a negative return on equity of 603.21%. On average, analysts forecast that Aeva Technologies, Inc. will post -2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aeva Technologies news, Director Stephen Paul Zadesky sold 2,984 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $25.41, for a total value of $75,823.44. Following the sale, the director owned 92,898 shares of the company’s stock, valued at $2,360,538.18. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Saurabh Sinha sold 5,643 shares of Aeva Technologies stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $84,870.72. Following the sale, the chief financial officer owned 590,034 shares of the company’s stock, valued at approximately $8,874,111.36. This trade represents a 0.95% decrease in their position. 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. Insiders sold a total of 702,448 shares of company stock worth $16,555,338 over the last three months. Corporate insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Aeva Technologies by 29.2% in the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $146,000 after purchasing an additional 4,707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after buying an additional 630 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after buying an additional 5,469 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Aeva Technologies in the 2nd quarter worth $446,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Aeva Technologies in the 2nd quarter worth $1,239,000. 62.92% of the stock is currently owned by institutional investors.

About Aeva Technologies

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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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