Aeva Technologies (NASDAQ:AEVA) Shares Down 4.1% - What's Next?

Key Points

• Aeva Technologies shares decreased by 4.1% to $16.91, with trading volume 5% lower than the average daily volume.
• Analyst ratings are mixed, with Oppenheimer raising the target price to $33.00 while Wall Street Zen downgraded the stock to "sell".
• In recent insider trading, CTO Mina Rezk and CEO Soroush Salehian Dardashti sold significant shares, decreasing their ownership by 7.17% and 8.57% respectively.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price dropped 4.1% during trading on Wednesday . The stock traded as low as $16.82 and last traded at $16.91. Approximately 1,820,193 shares traded hands during trading, a decline of 5% from the average daily volume of 1,923,920 shares. The stock had previously closed at $17.64.

Analyst Ratings Changes

Several research analysts have recently weighed in on AEVA shares. Wall Street Zen cut shares of Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday, September 20th. Oppenheimer boosted their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Aeva Technologies in a research report on Wednesday. Morgan Stanley upped their target price on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, 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. 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 stock. According to MarketBeat.com, Aeva Technologies has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Aeva Technologies Stock Performance

The firm's 50 day simple moving average is $15.18 and its 200-day simple moving average is $16.56. The company has a market cap of $882.13 million, a price-to-earnings ratio of -2.85 and a beta of 2.02.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its quarterly 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). The company had revenue of $5.51 million for the quarter, compared to analysts' expectations of $3.40 million. Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%. As a group, sell-side analysts expect that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $13.48, for a total value of $3,370,000.00. Following the completion of the transaction, the chief technology officer directly owned 3,236,669 shares of the company's stock, valued at $43,630,298.12. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 directly owned 2,134,808 shares of the company's stock, valued at $28,713,167.60. This trade represents 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 over the last three months. Company insiders own 27.20% of the company's stock.

Institutional Investors Weigh In On Aeva Technologies

Large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock valued at $33,000 after buying an additional 415 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Aeva Technologies in the second quarter valued at $36,000. Jones Financial Companies Lllp lifted its holdings in Aeva Technologies by 27,345.0% in the first 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. acquired a new stake in Aeva Technologies in the second quarter valued at $43,000. Finally, AlphaQuest LLC acquired a new stake in Aeva Technologies in the second quarter valued at $51,000. 62.92% of the stock is owned by institutional investors and hedge funds.

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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