Aeva Technologies (NASDAQ:AEVA) CFO Saurabh Sinha Sells 20,620 Shares

Key Points

• Aeva Technologies CFO Saurabh Sinha sold 20,620 shares on July 8 at an average price of $21.16, totaling about $436,319. The filing said the sale was to cover tax withholding obligations tied to vesting equity awards.
• Sinha has also sold shares recently, including 11,212 shares on July 2 and 5,643 shares on May 5, suggesting a continued pattern of insider selling.
• The company’s latest earnings beat expectations, with Q1 EPS of -$0.41 versus analyst estimates of -$0.53, while revenue came in at $6.26 million. Analysts currently have a consensus Hold rating on AEVA with a target price of $25.33.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) CFO Saurabh Sinha sold 20,620 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $436,319.20. Following the completion of the transaction, the chief financial officer directly owned 658,202 shares in the company, valued at $13,927,554.32. The trade was a 3.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Saurabh Sinha also recently made the following trade(s):

• On Thursday, July 2nd, Saurabh Sinha sold 11,212 shares of Aeva Technologies stock. The stock was sold at an average price of $26.75, for a total transaction of $299,921.00.
• On Tuesday, May 5th, Saurabh Sinha sold 5,643 shares of Aeva Technologies stock. The stock was sold at an average price of $15.04, for a total transaction of $84,870.72.

Aeva Technologies Price Performance

Shares of NASDAQ:AEVA opened at $20.99 on Monday. The firm has a market capitalization of $1.32 billion, a PE ratio of -4.21 and a beta of 2.40. The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09. Aeva Technologies, Inc. has a 52-week low of $8.83 and a 52-week high of $33.24. The firm has a fifty day moving average of $22.65 and a 200 day moving average of $17.49.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates of ($0.53) by $0.12. The firm had revenue of $6.26 million for the quarter. As a group, research analysts anticipate that Aeva Technologies, Inc. will post -2.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. Two research 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 data from MarketBeat.com, Aeva Technologies presently has a consensus rating of "Hold" and a consensus target price of $25.33.

Hedge Funds Weigh In On Aeva Technologies

A number of large investors have recently bought and sold shares of the stock. Duquesne Family Office LLC purchased a new position in shares of Aeva Technologies in the third quarter worth $26,670,000. Millennium Management LLC bought a new stake in Aeva Technologies in the 3rd quarter worth $25,751,000. Delta Global Management LP grew its holdings in Aeva Technologies by 29.7% in the 4th quarter. Delta Global Management LP now owns 1,623,148 shares of the company's stock worth $21,555,000 after acquiring an additional 372,159 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Aeva Technologies by 12.5% in the third quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company's stock valued at $22,865,000 after acquiring an additional 175,482 shares during the period. Finally, Handelsbanken Fonder AB increased 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. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.