Aeva Technologies, Inc. (NASDAQ:AEVA – Get Free Report) was down 7.8% during mid-day trading on Tuesday . The company traded as low as $21.66 and last traded at $21.89. Approximately 252,295 shares changed hands during trading, a decline of 89% from the average session volume of 2,305,945 shares. The stock had previously closed at $23.75.
Wall Street Analyst Weigh In
AEVA has been the subject of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $42.00 target price on shares of Aeva Technologies in a report on Thursday, August 6th. Wall Street Zen cut shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Aeva Technologies in a research report on Friday, August 7th. Morgan Stanley boosted their price objective on Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Canaccord Genuity Group upped their target price on Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Aeva Technologies has a consensus rating of “Hold” and a consensus target price of $31.67.
View Our Latest Research Report on AEVA
Aeva Technologies Trading Down 5.9%
Insiders Place Their Bets
In related news, CTO Mina Rezk sold 100,000 shares of Aeva Technologies stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $24.01, for a total value of $2,401,000.00. Following the transaction, the chief technology officer directly owned 1,606,669 shares of the company’s stock, valued at $38,576,122.69. This trade represents a 5.86% 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 30,514 shares of Aeva Technologies stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $24.32, for a total value of $742,100.48. Following the completion of the transaction, the chief executive officer owned 1,220,808 shares in the company, valued at approximately $29,690,050.56. The trade was a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,222,344 shares of company stock worth $29,083,486 over the last ninety days. Corporate insiders own 36.70% of the company’s stock.
Hedge Funds Weigh In On Aeva Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in Aeva Technologies in the second quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Aeva Technologies in the fourth quarter worth approximately $33,000. Daiwa Securities Group Inc. acquired a new position in Aeva Technologies in the second quarter valued at approximately $100,000. Caitong International Asset Management Co. Ltd acquired a new position in Aeva Technologies in the fourth quarter valued at approximately $47,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Aeva Technologies by 127.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company’s stock worth $163,000 after buying an additional 2,419 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.
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