Aeva Technologies, Inc. (NYSE:AEVA) Short Interest Up 33.7% in March

Aeva Technologies, Inc. (NYSE:AEVA - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,730,000 shares, a growth of 33.7% from the March 15th total of 2,790,000 shares. Based on an average daily volume of 792,900 shares, the days-to-cover ratio is currently 4.7 days. Currently, 11.6% of the company's stock are short sold.

Aeva Technologies Stock Performance

Shares of AEVA stock traded up $0.75 on Thursday, hitting $7.49. The company's stock had a trading volume of 926,499 shares, compared to its average volume of 473,379. Aeva Technologies has a fifty-two week low of $2.20 and a fifty-two week high of $8.12. The company has a market capitalization of $409.81 million, a PE ratio of -2.42 and a beta of 1.03. The stock's 50 day moving average is $5.06 and its 200-day moving average is $4.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Canaccord Genuity Group assumed coverage on Aeva Technologies in a report on Tuesday, April 1st. They set a "buy" rating and a $9.50 price target for the company. Morgan Stanley raised their target price on shares of Aeva Technologies from $4.87 to $5.22 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Finally, Oppenheimer upped their price target on shares of Aeva Technologies from $6.00 to $9.00 and gave the company an "outperform" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Aeva Technologies has an average rating of "Moderate Buy" and a consensus price target of $7.14.

Insiders Place Their Bets

In related news, Director Stephen Paul Zadesky sold 14,851 shares of Aeva Technologies stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.50, for a total transaction of $51,978.50. Following the completion of the transaction, the director now owns 83,764 shares in the company, valued at approximately $293,174. This trade represents a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mina Rezk sold 125,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $6.34, for a total value of $792,500.00. Following the completion of the sale, the chief technology officer now owns 8,421,669 shares in the company, valued at $53,393,381.46. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 4,213,506 shares of company stock valued at $24,985,345 and have sold 527,079 shares valued at $3,000,979. Insiders own 29.10% of the company's stock.

Institutional Trading of Aeva Technologies

Several large investors have recently modified their holdings of AEVA. American Century Companies Inc. grew its stake in Aeva Technologies by 34.9% during the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company's stock worth $122,000 after buying an additional 6,640 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Aeva Technologies by 13.2% during the 4th quarter. Rhumbline Advisers now owns 53,617 shares of the company's stock worth $255,000 after acquiring an additional 6,238 shares during the period. Barclays PLC boosted its position in shares of Aeva Technologies by 276.4% during the 3rd quarter. Barclays PLC now owns 29,910 shares of the company's stock worth $98,000 after acquiring an additional 21,964 shares in the last quarter. PFG Investments LLC bought a new position in Aeva Technologies in the fourth quarter valued at approximately $48,000. Finally, Geode Capital Management LLC raised its position in Aeva Technologies by 14.2% during the third quarter. Geode Capital Management LLC now owns 611,873 shares of the company's stock valued at $2,013,000 after purchasing an additional 76,044 shares in the last quarter. 62.92% of the stock is owned by institutional investors and hedge funds.

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.