Morgan Stanley Increases Aeva Technologies (NASDAQ:AEVA) Price Target to $19.00

Key Points

• Morgan Stanley has raised its price target for Aeva Technologies from $11.00 to $19.00, indicating a potential upside of 16.78% from the company's previous stock close.
• The stock is currently experiencing a decline, with Aeva Technologies trading down 12.7% to $16.27, amid a reported loss of $(0.55) earnings per share for the most recent quarter.
• Insider trading has been notable, with significant stock sales by CTO Mina Rezk and director Hrach Simonian, indicating a decrease in their ownership percentages.

Aeva Technologies (NASDAQ:AEVA - Free Report) had its price objective hoisted by Morgan Stanley from $11.00 to $19.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

AEVA has been the topic of several other reports. Oppenheimer raised their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Canaccord Genuity Group increased their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen cut Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Roth Capital upped their price objective on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Aeva Technologies Stock Down 15.0%

NASDAQ:AEVA traded down $2.79 during mid-day trading on Friday, reaching $15.85. 3,890,699 shares of the stock were exchanged, compared to its average volume of 2,604,152. The stock has a market capitalization of $872.07 million, a P/E ratio of -2.88 and a beta of 1.95. Aeva Technologies has a 1 year low of $2.36 and a 1 year high of $38.80. The company has a 50 day simple moving average of $25.20 and a 200-day simple moving average of $12.84.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The business had revenue of $5.51 million for the quarter, compared to analysts' expectations of $3.40 million. Aeva Technologies had a negative return on equity of 130.04% and a negative net margin of 2,178.31%. As a group, research analysts predict that Aeva Technologies will post -2.7 EPS for the current year.

Insider Activity

In other news, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,514,808 shares of the company's stock, valued at approximately $55,182,485.60. This represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Mina Rezk sold 250,000 shares of the firm'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 value of $3,925,000.00. Following the completion of the sale, the chief technology officer directly owned 8,046,669 shares of the company's stock, valued at $126,332,703.30. This represents a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 772,164 shares of company stock valued at $15,598,535. 27.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AEVA. Bank of America Corp DE grew its stake in shares of Aeva Technologies by 170.0% during the 4th quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock worth $229,000 after purchasing an additional 30,380 shares during the period. Deutsche Bank AG grew its position in Aeva Technologies by 510.8% during the fourth quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock worth $214,000 after buying an additional 37,665 shares during the period. Millennium Management LLC acquired a new position in Aeva Technologies during the fourth quarter worth about $174,000. Two Sigma Investments LP increased its holdings 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 buying an additional 56,107 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock worth $3,082,000 after acquiring an additional 623,889 shares during the period. Hedge funds and other 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.