Aeva Technologies (NASDAQ:AEVA) Shares Down 3.2% - Here's What Happened

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) fell 3.2% during trading on Wednesday . The stock traded as low as $24.80 and last traded at $25.04. 705,307 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 1,650,811 shares. The stock had previously closed at $25.86.

Analyst Upgrades and Downgrades

Several research firms recently commented on AEVA. Canaccord Genuity Group raised their price target 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 shares of Aeva Technologies from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Roth Capital increased their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Oppenheimer increased their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Morgan Stanley increased their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.00.

Aeva Technologies Stock Performance

The business's 50 day moving average is $24.81 and its 200 day moving average is $12.33. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.59 and a beta of 1.95.

Insider Buying and Selling at Aeva Technologies

In related news, CTO Mina Rezk sold 250,000 shares of the business's stock in a transaction 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 transaction, the chief technology officer directly owned 8,046,669 shares in the company, valued at $126,332,703.30. The trade was a 3.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the business'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 completion of the transaction, the chief executive officer 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 897,164 shares of company stock valued at $16,544,953. 27.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

Several large investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Aeva Technologies during the 2nd quarter worth $335,000. Inspire Investing LLC acquired a new stake in Aeva Technologies during the 2nd quarter worth $386,000. Perennial Advisors LLC acquired a new stake in Aeva Technologies during the 2nd quarter worth $227,000. GAMMA Investing LLC boosted its stake in Aeva Technologies by 92.2% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after purchasing an additional 415 shares during the last quarter. Finally, Sylebra Capital LLC boosted its position in shares of Aeva Technologies by 56.4% during the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock valued at $113,600,000 after acquiring an additional 5,849,249 shares during the last quarter. 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.