Aeva Technologies (NASDAQ:AEVA) Hits New 12-Month High - Here's Why

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $37.69 and last traded at $36.10, with a volume of 668117 shares changing hands. The stock had previously closed at $36.43.

Wall Street Analysts Forecast Growth

AEVA has been the topic of several research analyst reports. Roth Capital boosted their price target on Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Oppenheimer lifted their price objective on Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Canaccord Genuity Group upped their target price on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley lifted their price target on Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $14.50.

Aeva Technologies Stock Down 24.2%

The stock has a fifty day moving average price of $18.20 and a two-hundred day moving average price of $9.39. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -10.13 and a beta of 1.94.

Insider Buying and Selling

In other news, Director Hrach Simonian sold 100,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $24.86, for a total value of $2,486,000.00. Following the completion of the transaction, the director owned 3,597,039 shares of the company's stock, valued at $89,422,389.54. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the transaction, the chief executive officer directly owned 3,514,808 shares in the company, valued at $55,182,485.60. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,928 shares of company stock worth $12,909,369. 27.20% of the stock is owned by corporate insiders.

Institutional Trading of Aeva Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AEVA. Jones Financial Companies Lllp boosted its holdings in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after purchasing an additional 5,469 shares during the last quarter. Intech Investment Management LLC acquired a new position in Aeva Technologies in the fourth quarter valued at $52,000. Squarepoint Ops LLC purchased a new position in Aeva Technologies during the fourth quarter worth about $54,000. Susquehanna Fundamental Investments LLC acquired a new stake in Aeva Technologies in the 4th quarter worth about $63,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock valued at $96,000 after buying an additional 630 shares during the period. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.