Aeva Technologies, Inc. (NASDAQ:AEVA) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Aeva Technologies has a consensus “Hold” rating from five analysts, with one sell, two hold and two buy recommendations. The average 12-month price target is $28.75, although targets range from Goldman Sachs’ $20 to Oppenheimer’s $42.
• Company insiders have been selling shares: executives sold 1.29 million shares worth approximately $30.6 million over the past three months. The CEO and CTO recently reduced their holdings by 2.44% and 5.86%, respectively.
• Institutional investors own 62.92% of Aeva, with several firms—including Duquesne Family Office and Millennium Management—initiating or significantly increasing positions. The stock opened at $18.29, versus a 52-week range of $8.83 to $31.30.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) have been assigned an average rating of "Hold" from the five research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $28.75.

A number of analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on Aeva Technologies in a research report on Monday. They issued a "neutral" rating and a $20.00 price objective for the company. Canaccord Genuity Group boosted their target price on Aeva Technologies from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Wall Street Zen cut Aeva Technologies from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded Aeva Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $42.00 price objective on shares of Aeva Technologies in a research report on Thursday, August 6th.

Insiders Place Their Bets

In other news, CEO Soroush Salehian Dardashti sold 30,514 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $24.32, for a total value of $742,100.48. Following the transaction, the chief executive officer owned 1,220,808 shares of the company's stock, valued at approximately $29,690,050.56. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mina Rezk sold 100,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $24.01, for a total value of $2,401,000.00. Following the transaction, the chief technology officer owned 1,606,669 shares in the company, valued at approximately $38,576,122.69. This trade represents a 5.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,292,344 shares of company stock worth $30,568,186 over the last three months. Insiders own 36.70% of the company's stock.

Institutional Trading of Aeva Technologies

Institutional investors have recently added to or reduced their stakes in the company. Duquesne Family Office LLC bought a new position in Aeva Technologies during the 3rd quarter worth $26,670,000. Millennium Management LLC bought a new stake in shares of Aeva Technologies in the third quarter valued at about $25,751,000. Handelsbanken Fonder AB boosted its position in shares of Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company's stock valued at $19,202,000 after acquiring an additional 885,774 shares during the period. California State Teachers Retirement System boosted its position in shares of Aeva Technologies by 2,814.6% in the second quarter. California State Teachers Retirement System now owns 651,973 shares of the company's stock valued at $18,725,000 after acquiring an additional 629,604 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Aeva Technologies by 1,223.8% in the second quarter. Invesco Ltd. now owns 614,411 shares of the company's stock valued at $23,219,000 after acquiring an additional 567,998 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Price Performance

NASDAQ:AEVA opened at $18.29 on Monday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.70 and a beta of 2.47. Aeva Technologies has a twelve month low of $8.83 and a twelve month high of $31.30. The stock's 50 day moving average price is $21.09 and its two-hundred day moving average price is $18.23. The company has a quick ratio of 7.63, a current ratio of 7.85 and a debt-to-equity ratio of 3.52.

Aeva Technologies Company Profile

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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