Aeva Technologies (NASDAQ:AEVA) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Aeva Technologies has been assigned a Sell (D-) rating by Weiss Ratings, highlighting concerns about its stock performance.
• Despite the negative rating from Weiss, other brokerages, such as Wall Street Zen and Oppenheimer, have upgraded Aeva Technologies to Hold and Outperform ratings, indicating mixed analyst sentiments.
• Aeva's stock has seen a significant fluctuation, with a 52-week low of $2.52 and a high of $38.80, alongside a recent trading price of $17.18.

Aeva Technologies (NASDAQ:AEVA - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other brokerages have also recently issued reports on AEVA. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, October 18th. Oppenheimer lifted their target price on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley lifted their price target on Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

Aeva Technologies Stock Performance

Shares of AEVA traded up $0.19 during mid-day trading on Friday, reaching $17.18. 1,108,261 shares of the company were exchanged, compared to its average volume of 1,940,152. The business has a 50 day simple moving average of $15.71 and a two-hundred day simple moving average of $17.37. Aeva Technologies has a 52 week low of $2.52 and a 52 week high of $38.80. The stock has a market capitalization of $967.75 million, a PE ratio of -3.12 and a beta of 2.02.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%.The business had revenue of $5.51 million for the quarter, compared to analyst estimates of $3.40 million. On average, analysts predict that Aeva Technologies will post -2.7 EPS for the current year.

Insiders Place Their Bets

In other Aeva Technologies news, CFO Saurabh Sinha sold 160,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $13.33, for a total value of $2,132,800.00. Following the transaction, the chief financial officer directly owned 810,710 shares in the company, valued at $10,806,764.30. This represents a 16.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $13.45, for a total value of $2,690,000.00. Following the completion of the transaction, the chief executive officer owned 2,134,808 shares of the company's stock, valued at $28,713,167.60. The trade was a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 646,658 shares of company stock worth $8,698,680 in the last ninety days. 27.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after purchasing an additional 415 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Aeva Technologies during the 2nd quarter valued at about $36,000. Jones Financial Companies Lllp boosted its holdings in Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after acquiring an additional 5,469 shares during the period. Total Investment Management Inc. purchased a new stake in Aeva Technologies during the 2nd quarter valued at about $43,000. Finally, AlphaQuest LLC purchased a new stake in Aeva Technologies during the 2nd quarter valued at about $51,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

About Aeva Technologies

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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