Aeva Technologies (NASDAQ:AEVA) Shares Down 11% - What's Next?

Key Points

• Aeva Technologies shares fell 11% to $23.69 on Monday, with trading volume down 80% from the average session.
• Analyst opinions remain mixed: the stock has a consensus “Hold” rating and an average price target of $31.67, while targets range from $26 to $42.
• Company insiders sold 817,245 shares worth approximately $19.3 million over the past 90 days, including substantial sales by the CEO and CTO; institutional investors own 62.92% of the stock.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price traded down 11% on Monday . The company traded as low as $22.91 and last traded at $23.69. Approximately 477,687 shares were traded during trading, a decline of 80% from the average session volume of 2,335,801 shares. The stock had previously closed at $26.62.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Aeva Technologies in a research report on Friday. Canaccord Genuity Group boosted their target price on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley upped their price target on shares of Aeva Technologies from $18.50 to $27.00 and gave the stock an "equal weight" rating in a report on Friday. Oppenheimer reiterated an "outperform" rating and set a $42.00 price target on shares of Aeva Technologies in a research report on Thursday. Finally, Wall Street Zen cut shares of Aeva Technologies from a "sell" rating to a "strong sell" rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.67.

Aeva Technologies Trading Down 8.6%

The firm has a 50-day moving average of $21.57 and a two-hundred day moving average of $17.76. The firm has a market capitalization of $1.53 billion, a P/E ratio of -8.91 and a beta of 2.47. The company has a current ratio of 7.85, a quick ratio of 7.63 and a debt-to-equity ratio of 3.52.

Insider Transactions at Aeva Technologies

In related news, CTO Mina Rezk sold 350,000 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the sale, the chief technology officer directly owned 1,706,669 shares of the company's stock, valued at approximately $41,932,857.33. The trade was a 17.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 225,349 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $5,536,824.93. Following the transaction, the chief executive officer owned 1,659,957 shares of the company's stock, valued at approximately $40,785,143.49. This represents a 11.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 817,245 shares of company stock valued at $19,342,658. 36.70% of the stock is currently owned by insiders.

Institutional Trading of Aeva Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Aeva Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after purchasing an additional 630 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Aeva Technologies by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company's stock valued at $433,000 after buying an additional 884 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Aeva Technologies in the second quarter valued at about $36,000. Rockefeller Capital Management L.P. increased its stake in shares of Aeva Technologies by 19.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company's stock valued at $95,000 after buying an additional 1,159 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Aeva Technologies by 7.6% during the fourth quarter. MetLife Investment Management LLC now owns 20,001 shares of the company's stock worth $266,000 after acquiring an additional 1,409 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company's stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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