Aeva Technologies (NASDAQ:AEVA) Sets New 1-Year High - Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $19.78 and last traded at $19.71, with a volume of 2241442 shares changing hands. The stock had previously closed at $17.32.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Roth Capital increased their price objective on Aeva Technologies from $6.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Oppenheimer raised their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Canaccord Genuity Group raised their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley lifted their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.33.

Aeva Technologies Price Performance

The stock has a market capitalization of $1.15 billion, a P/E ratio of -6.76 and a beta of 1.66. The firm's 50 day moving average price is $11.17 and its 200 day moving average price is $6.64.

Insider Activity

In other news, CTO Mina Rezk sold 250,000 shares of the firm's stock in a transaction 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 sale, the chief technology officer now directly owns 8,046,669 shares in the company, valued at $126,332,703.30. This trade represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sylebra Capital Llc acquired 990,411 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were purchased at an average price of $4.36 per share, for a total transaction of $4,318,191.96. Following the completion of the transaction, the insider now directly owns 11,369,715 shares in the company, valued at approximately $49,571,957.40. This trade represents a 9.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 4,213,506 shares of company stock worth $24,985,345 and have sold 1,137,228 shares worth $11,745,419. Corporate insiders own 27.20% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG grew its stake in shares of Aeva Technologies by 510.8% in the 4th quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock worth $214,000 after buying an additional 37,665 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Aeva Technologies by 2,490.3% during the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock worth $3,082,000 after purchasing an additional 623,889 shares during the period. American Century Companies Inc. boosted its stake in shares of Aeva Technologies by 34.9% during the 4th quarter. American Century Companies Inc. now owns 25,689 shares of the company's stock worth $122,000 after purchasing an additional 6,640 shares during the period. Rhumbline Advisers boosted its stake in shares of Aeva Technologies by 13.2% during the 4th quarter. Rhumbline Advisers now owns 53,617 shares of the company's stock worth $255,000 after purchasing an additional 6,238 shares during the period. Finally, Barclays PLC boosted its stake in shares of Aeva Technologies by 16.3% during the 4th quarter. Barclays PLC now owns 34,800 shares of the company's stock worth $166,000 after purchasing an additional 4,890 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.