Aeva Technologies, Inc. (NASDAQ:AEVA) Short Interest Update

Key Points

• Aeva Technologies saw a **29.7% increase** in short interest in August, reaching **8,250,000 shares**, which accounts for **23.6%** of the company's shares being sold short.
• Insider sales included CTO **Mina Rezk** selling **250,000 shares** for approximately **$3.37 million**, representing a **7.17% decrease** in his ownership, while CFO **Saurabh Sinha** sold **36,658 shares** valued at **$505,880**.
• Analysts have raised their price targets for Aeva Technologies, with **Morgan Stanley** increasing it from **$11** to **$19**, reflecting a generally positive outlook with an average rating of **"Moderate Buy."**

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 8,250,000 shares, an increase of 29.7% from the August 15th total of 6,360,000 shares. Based on an average trading volume of 2,890,000 shares, the short-interest ratio is currently 2.9 days. Currently, 23.6% of the company's stock are sold short. Currently, 23.6% of the company's stock are sold short. Based on an average trading volume of 2,890,000 shares, the short-interest ratio is currently 2.9 days.

Insiders Place Their Bets

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total transaction of $2,690,000.00. Following the transaction, the chief executive officer directly owned 2,134,808 shares in the company, valued at $28,713,167.60. This represents a 8.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $13.48, for a total transaction of $3,370,000.00. Following the sale, the chief technology officer directly owned 3,236,669 shares of the company's stock, valued at approximately $43,630,298.12. The trade was a 7.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,822 shares of company stock worth $13,961,215 in the last three months. Corporate insiders own 27.20% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AEVA. Northern Trust Corp increased its holdings in Aeva Technologies by 5.0% in the 4th quarter. Northern Trust Corp now owns 208,287 shares of the company's stock worth $989,000 after buying an additional 9,984 shares during the period. Bank of America Corp DE grew its stake in shares of Aeva Technologies by 170.0% during the 4th quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock worth $229,000 after purchasing an additional 30,380 shares during the period. Deutsche Bank AG grew its stake in shares of Aeva Technologies by 510.8% during the 4th quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock worth $214,000 after purchasing an additional 37,665 shares during the period. Millennium Management LLC acquired a new stake in shares of Aeva Technologies during the 4th quarter worth approximately $174,000. Finally, Two Sigma Investments LP grew its stake in shares of Aeva Technologies by 308.6% during the 4th quarter. Two Sigma Investments LP now owns 74,288 shares of the company's stock worth $353,000 after purchasing an additional 56,107 shares during the period. Institutional investors and hedge funds own 62.92% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on AEVA shares. Wall Street Zen lowered shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Saturday. Roth Capital increased their price objective on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Oppenheimer increased their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley increased their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Aeva Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Price Performance

NASDAQ:AEVA traded up $1.17 during midday trading on Friday, hitting $18.28. The company's stock had a trading volume of 4,214,457 shares, compared to its average volume of 2,535,174. Aeva Technologies has a fifty-two week low of $2.52 and a fifty-two week high of $38.80. The firm's 50 day moving average is $17.44 and its 200-day moving average is $15.37. The firm has a market cap of $1.03 billion, a P/E ratio of -3.32 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 for the quarter, missing the consensus estimate 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 analyst estimates of $3.40 million. As a group, analysts forecast that Aeva Technologies will post -2.7 EPS for the current year.

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.