Aeva Technologies, Inc. (NASDAQ:AEVA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Aeva Technologies has received a consensus recommendation of "Moderate Buy" from analysts, with an average 1-year price target of $18.33.
• The company reported a quarterly revenue of $5.51 million, exceeding expectations, although it missed earnings per share estimates.
• Insider trading has seen substantial sales recently, with company directors selling a total of 882,164 shares worth approximately $15.94 million in the last three months.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $18.3333.

Several analysts recently issued reports on AEVA shares. Morgan Stanley lifted their target price on Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Canaccord Genuity Group upped their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Oppenheimer boosted their target price on Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Roth Capital boosted their target price on Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th.

Aeva Technologies Price Performance

Shares of AEVA stock traded down $0.16 on Friday, hitting $13.61. 1,946,964 shares of the stock traded hands, compared to its average volume of 2,810,425. Aeva Technologies has a 52 week low of $2.36 and a 52 week high of $38.80. The firm has a 50 day simple moving average of $21.38 and a two-hundred day simple moving average of $14.41. The firm has a market cap of $766.65 million, a price-to-earnings ratio of -2.47 and a beta of 2.00.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%.The business had revenue of $5.51 million during the quarter, compared to analysts' expectations of $3.40 million. Sell-side analysts forecast that Aeva Technologies will post -2.7 EPS for the current year.

Insider Buying and Selling

In other news, Director Hrach Simonian sold 100,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $24.86, for a total transaction of $2,486,000.00. Following the transaction, the director owned 3,597,039 shares of the company's stock, valued at approximately $89,422,389.54. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $13.48, for a total value of $3,370,000.00. Following the transaction, the chief technology officer directly owned 3,236,669 shares in the company, valued at approximately $43,630,298.12. This represents a 7.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 882,164 shares of company stock valued at $15,941,335. Insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AEVA. Sylebra Capital LLC grew its stake in shares of Aeva Technologies by 56.4% during the first quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock valued at $113,600,000 after buying an additional 5,849,249 shares during the last quarter. Parkwood LLC grew its stake in Aeva Technologies by 415.7% in the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock worth $6,776,000 after purchasing an additional 1,150,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Aeva Technologies by 1,630.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,105,048 shares of the company's stock worth $41,760,000 after buying an additional 1,041,176 shares during the period. Jane Street Group LLC lifted its holdings in Aeva Technologies by 2,490.3% during the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock worth $3,082,000 after buying an additional 623,889 shares during the period. Finally, Invesco Ltd. lifted its holdings in Aeva Technologies by 1,223.8% during the second quarter. Invesco Ltd. now owns 614,411 shares of the company's stock worth $23,219,000 after buying an additional 567,998 shares during the period. Institutional investors own 62.92% of the company's stock.

About Aeva Technologies

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.