Aeva Technologies (NASDAQ:AEVA) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Aeva Technologies (NASDAQ:AEVA - Free Report) from a hold rating to a sell rating in a report released on Friday morning.

A number of other research firms have also issued reports on AEVA. Roth Capital upped their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Morgan Stanley upped their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Canaccord Genuity Group upped their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Oppenheimer upped their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Aeva Technologies presently has an average rating of "Moderate Buy" and an average price target of $17.00.

Aeva Technologies Price Performance

NASDAQ:AEVA traded down $4.10 on Friday, reaching $28.13. The stock had a trading volume of 1,883,801 shares, compared to its average volume of 1,640,549. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -9.94 and a beta of 1.95. The firm's fifty day moving average is $23.89 and its two-hundred day moving average is $11.75. Aeva Technologies has a 12-month low of $2.36 and a 12-month high of $38.80.

Insiders Place Their Bets

In related news, CFO Saurabh Sinha sold 22,239 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $30.53, for a total transaction of $678,956.67. Following the transaction, the chief financial officer directly owned 970,710 shares in the company, valued at $29,635,776.30. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.70, for a total value of $3,925,000.00. Following the transaction, the chief executive officer owned 3,514,808 shares in the company, valued at $55,182,485.60. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 897,164 shares of company stock valued at $16,544,953. Corporate insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Aeva Technologies by 92.2% during the second quarter. GAMMA Investing LLC now owns 865 shares of the company's stock valued at $33,000 after purchasing an additional 415 shares during the period. Jones Financial Companies Lllp increased 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 valued at $38,000 after purchasing an additional 5,469 shares during the period. Intech Investment Management LLC acquired a new position in shares of Aeva Technologies during the fourth quarter valued at $52,000. Squarepoint Ops LLC acquired a new position in shares of Aeva Technologies during the fourth quarter valued at $54,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Aeva Technologies during the fourth quarter valued at $63,000. 62.92% of the stock is owned by institutional investors and hedge funds.

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.