Aeva Technologies (NASDAQ:AEVA) CTO Mina Rezk Sells 100,000 Shares of Stock

Key Points

• Aeva Technologies CTO Mina Rezk sold 100,000 shares at an average price of $24.01, generating $2.4 million and reducing his ownership by 5.86% to 1.61 million shares.
• AEVA shares rose 4.6% to $25.16, with the stock trading between a 52-week range of $8.83 and $31.30. The company has a market capitalization of approximately $1.59 billion.
• Analyst sentiment remains mixed: the average rating is “Hold” with a $31.67 price target, while recent targets range from $26 to $42; institutional investors own 62.92% of the company.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) CTO Mina Rezk sold 100,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $24.01, for a total transaction of $2,401,000.00. Following the sale, the chief technology officer owned 1,606,669 shares of the company's stock, valued at approximately $38,576,122.69. This represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mina Rezk also recently made the following trade(s):

• On Monday, July 27th, Mina Rezk sold 10,304 shares of Aeva Technologies stock. The shares were sold at an average price of $15.40, for a total transaction of $158,681.60.
• On Wednesday, July 8th, Mina Rezk sold 64,821 shares of Aeva Technologies stock. The stock was sold at an average price of $21.16, for a total transaction of $1,371,612.36.
• On Tuesday, June 16th, Mina Rezk sold 350,000 shares of Aeva Technologies stock. The shares were sold at an average price of $24.57, for a total value of $8,599,500.00.

Aeva Technologies Stock Up 4.6%

NASDAQ:AEVA traded up $1.10 during mid-day trading on Wednesday, hitting $25.16. The company had a trading volume of 1,408,144 shares, compared to its average volume of 1,883,984. The business has a fifty day simple moving average of $21.41 and a 200-day simple moving average of $17.88. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -9.22 and a beta of 2.47. Aeva Technologies, Inc. has a 1 year low of $8.83 and a 1 year high of $31.30. The company has a current ratio of 7.85, a quick ratio of 7.63 and a debt-to-equity ratio of 3.52.

Analysts Set New Price Targets

AEVA has been the topic of several recent research reports. Morgan Stanley boosted their price target on Aeva Technologies from $18.50 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Canaccord Genuity Group boosted their target price on shares of Aeva Technologies from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of Aeva Technologies from a "sell" rating to a "strong sell" rating in a research note on Saturday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeva Technologies in a report on Friday, August 7th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $42.00 price target on shares of Aeva Technologies in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Aeva Technologies has an average rating of "Hold" and an average price target of $31.67.

Institutional Investors Weigh In On Aeva Technologies

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in Aeva Technologies during the 2nd quarter valued at approximately $2,382,000. Next Capital Management LLC purchased a new position in shares of Aeva Technologies during the 2nd quarter valued at approximately $211,000. Bank of America Corp DE boosted its stake in shares of Aeva Technologies by 27.7% during the 1st quarter. Bank of America Corp DE now owns 110,005 shares of the company's stock valued at $1,448,000 after buying an additional 23,856 shares during the last quarter. Royal Bank of Canada grew its position in shares of Aeva Technologies by 51.7% during the first quarter. Royal Bank of Canada now owns 28,504 shares of the company's stock worth $375,000 after buying an additional 9,720 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Aeva Technologies by 15.4% during the first quarter. Quantinno Capital Management LP now owns 24,141 shares of the company's stock worth $318,000 after buying an additional 3,218 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company's stock.

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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