Aeva Technologies (NASDAQ:AEVA) Shares Down 5.8% - Should You Sell?

Key Points

• Aeva Technologies' shares fell by 5.8% during mid-day trading, declining to $16.54 from a previous close of $17.56, with a significant drop in trading volume.
• Multiple analyst reports downgraded Aeva's stock, with Wall Street Zen changing its rating from "hold" to "sell," while five analysts still hold a "buy" rating, giving the stock a consensus target price of $18.33.
• Recent insider trading showed significant sales from company executives, with CEO Soroush Salehian Dardashti selling 200,000 shares and CTO Mina Rezk selling 250,000 shares, indicating potential concerns about the stock's performance.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $16.25 and last traded at $16.54. 234,457 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,932,130 shares. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

AEVA has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, September 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Aeva Technologies in a research report on Wednesday, October 8th. Morgan Stanley boosted their target price on Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Oppenheimer raised their price target on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Roth Capital lifted their price target on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

Aeva Technologies Price Performance

The firm has a market cap of $1.01 billion, a PE ratio of -3.27 and a beta of 2.02. The business has a 50-day moving average price of $15.11 and a two-hundred day moving average price of $16.93.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%.The business had revenue of $5.51 million for the quarter, compared to analysts' expectations of $3.40 million. Equities analysts expect that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 2,134,808 shares of the company's stock, valued at approximately $28,713,167.60. This trade represents a 8.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $13.48, for a total transaction of $3,370,000.00. Following the sale, the chief technology officer directly owned 3,236,669 shares of the company's stock, valued at approximately $43,630,298.12. This trade represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 646,658 shares of company stock valued at $8,698,680. Insiders own 27.20% of the company's stock.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Aeva Technologies by 13.2% in the 1st quarter. Bank of New York Mellon Corp now owns 71,786 shares of the company's stock worth $503,000 after acquiring an additional 8,368 shares during the period. Invesco Ltd. purchased a new stake in Aeva Technologies during the 1st quarter worth $325,000. Informed Momentum Co LLC acquired a new position in Aeva Technologies in the 1st quarter worth $781,000. American Century Companies Inc. grew its stake in shares of Aeva Technologies by 81.5% during the first quarter. American Century Companies Inc. now owns 46,623 shares of the company's stock valued at $326,000 after acquiring an additional 20,934 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Aeva Technologies by 29.2% during the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company's stock worth $146,000 after acquiring an additional 4,707 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.