Aeva Technologies, Inc. (NASDAQ:AEVA – Get Free Report)’s share price was up 8.8% on Friday . The stock traded as high as $24.43 and last traded at $24.40. Approximately 822,228 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 2,323,077 shares. The stock had previously closed at $22.42.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $42.00 target price on shares of Aeva Technologies in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Morgan Stanley lifted their price target on shares of Aeva Technologies from $18.50 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Canaccord Genuity Group boosted their price target on Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeva Technologies in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.67.
Read Our Latest Report on AEVA
Aeva Technologies Price Performance
Insiders Place Their Bets
In related news, CTO Mina Rezk sold 100,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $24.01, for a total transaction of $2,401,000.00. Following the completion of the sale, the chief technology officer directly owned 1,606,669 shares in the company, valued at $38,576,122.69. This represents a 5.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Saurabh Sinha sold 6,830 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $15.40, for a total value of $105,182.00. Following the completion of the sale, the chief financial officer directly owned 651,372 shares in the company, valued at $10,031,128.80. This trade represents a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,222,344 shares of company stock worth $29,083,486 over the last three months. Insiders own 36.70% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $96,000 after purchasing an additional 630 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Aeva Technologies by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock valued at $433,000 after purchasing an additional 884 shares during the last quarter. Quantbot Technologies LP bought a new position in Aeva Technologies in the 2nd quarter valued at approximately $36,000. Rockefeller Capital Management L.P. boosted its position in Aeva Technologies by 19.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock valued at $95,000 after buying an additional 1,159 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Aeva Technologies by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock valued at $266,000 after buying an additional 1,409 shares in the last quarter. Institutional investors own 62.92% of the company’s stock.
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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