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

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price fell 3.2% during trading on Wednesday . The stock traded as low as $24.80 and last traded at $25.04. 705,307 shares changed 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.

Analysts Set New Price Targets

Several research firms have commented on AEVA. Roth Capital upped their price target on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Oppenheimer raised 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. Canaccord Genuity Group boosted their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley increased their price objective 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. Finally, Wall Street Zen lowered Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Aeva Technologies Price Performance

The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -8.42 and a beta of 1.95. The stock has a 50-day moving average price of $24.62 and a 200 day moving average price of $12.09.

Insiders Place Their Bets

In other Aeva Technologies news, CTO Mina Rezk sold 69,901 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $30.54, for a total value of $2,134,776.54. Following the sale, the chief technology officer owned 1,575,273 shares of the company's stock, valued at approximately $48,108,837.42. This represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Soroush Salehian Dardashti sold 69,901 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $30.53, for a total value of $2,134,077.53. Following the completion of the sale, the chief executive officer owned 1,897,862 shares in the company, valued at $57,941,726.86. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 897,164 shares of company stock worth $16,544,953 in the last ninety days. 27.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Aeva Technologies by 170.0% in the fourth quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock valued at $229,000 after buying an additional 30,380 shares during the period. Deutsche Bank AG increased its position in Aeva Technologies by 510.8% in 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 stake in shares of Aeva Technologies in the fourth quarter valued at approximately $174,000. Two Sigma Investments LP lifted 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 worth $353,000 after purchasing an additional 56,107 shares during the period. Finally, Jane Street Group LLC lifted its position in Aeva Technologies by 2,490.3% in the fourth 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. Institutional investors and hedge funds 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.