Aeva Technologies (NASDAQ:AEVA) Trading Down 4.7% - Here's What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) shares dropped 4.7% during trading on Friday . The stock traded as low as $26.71 and last traded at $27.83. Approximately 835,315 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 1,579,405 shares. The stock had previously closed at $29.21.

Analyst Upgrades and Downgrades

AEVA has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Canaccord Genuity Group boosted their target price on Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Oppenheimer boosted their target price on Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Finally, Roth Capital boosted their target price on Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $14.50.

Aeva Technologies Trading Down 10.6%

The firm has a 50-day moving average of $21.97 and a 200 day moving average of $10.83. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -9.22 and a beta of 1.95.

Insider Buying and Selling

In related news, Director Hrach Simonian sold 100,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $24.86, for a total transaction of $2,486,000.00. Following the transaction, the director directly owned 3,597,039 shares of the company's stock, valued at approximately $89,422,389.54. The trade was a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 22,239 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $30.53, for a total value of $678,956.67. Following the transaction, the chief financial officer directly owned 970,710 shares in the company, valued at $29,635,776.30. This trade represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,111,080 shares of company stock valued at $18,014,103. Insiders own 27.20% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its position in shares of Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after purchasing an additional 5,469 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Aeva Technologies in the 4th quarter valued at approximately $52,000. Squarepoint Ops LLC acquired a new position in shares of Aeva Technologies in the 4th quarter valued at approximately $54,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Aeva Technologies in the 4th quarter valued at approximately $63,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock valued at $96,000 after purchasing an additional 630 shares in the last quarter. 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.