Aeva Technologies (NASDAQ:AEVA) Cut to "Sell" at Wall Street Zen

Key Points

• Aeva Technologies has been downgraded from a "hold" to a "sell" rating by Wall Street Zen.
• Despite the downgrade, several brokerages, including Morgan Stanley and Oppenheimer, have increased their target prices for the stock, suggesting varying outlooks among analysts.
• Aeva Technologies reported a loss of $0.55 per share in its last quarterly earnings, missing analyst expectations, but exceeded revenue forecasts with $5.51 million during the quarter.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Several other brokerages also recently commented on AEVA. Morgan Stanley lifted their target price on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Oppenheimer lifted their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Roth Capital lifted their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Trading Up 6.8%

AEVA stock opened at $18.28 on Friday. Aeva Technologies has a 1 year low of $2.52 and a 1 year high of $38.80. The company has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $15.37. The firm has a market cap of $1.03 billion, a PE ratio of -3.32 and a beta of 2.00.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. 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 fiscal year.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total value of $2,690,000.00. Following the completion of the sale, the chief executive officer owned 2,134,808 shares of the company's stock, valued at approximately $28,713,167.60. This represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief technology officer directly owned 3,236,669 shares of the company's stock, valued at $43,630,298.12. The trade was a 7.17% decrease in their position. 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 over the last ninety days. Corporate insiders own 27.20% of the company's stock.

Institutional Investors Weigh In On Aeva Technologies

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

Aeva Technologies Company Profile

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.

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