Aeva Technologies (NASDAQ:AEVA) Shares Down 7.7% Following Insider Selling

Key Points

• Aeva Technologies shares fell by 7.7% following insider sales, with CEO Soroush Salehian Dardashti selling 200,000 shares and CTO Mina Rezk selling 250,000 shares, indicating a significant decline in their holdings.
• Despite recent stock performance issues, analysts remain optimistic, with several firms raising their price targets, including Roth Capital's increase from $17.00 to $30.00 and Oppenheimer's from $18.00 to $33.00.
• The company reported a revenue of $5.51 million for the last quarter, exceeding expectations, though it still declared a loss of ($0.55) earnings per share, missing consensus estimates.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded down 7.7% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $12.70 and last traded at $12.75. 1,259,884 shares were traded during mid-day trading, a decline of 29% from the average session volume of 1,769,541 shares. The stock had previously closed at $13.81.

Specifically, CEO Soroush Salehian Dardashti sold 200,000 shares of Aeva Technologies stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total transaction of $2,690,000.00. Following the completion of the sale, the chief executive officer directly owned 2,134,808 shares in the company, valued at $28,713,167.60. This trade represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $13.48, for a total value of $3,370,000.00. Following the completion of the sale, the chief technology officer directly owned 3,236,669 shares in the company, valued at $43,630,298.12. This represents a 7.17% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

AEVA has been the subject of several research analyst reports. Roth Capital increased their price objective on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Oppenheimer upped their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Canaccord Genuity Group raised their price target on Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley lifted their price target on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Aeva Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Trading Down 3.9%

The business has a 50 day simple moving average of $23.94 and a two-hundred day simple moving average of $13.68. The stock has a market cap of $721.02 million, a price-to-earnings ratio of -2.33 and a beta of 1.94.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its stake in Aeva Technologies by 127.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company's stock valued at $163,000 after acquiring an additional 2,419 shares during the period. Oxford Asset Management LLP acquired a new position in Aeva Technologies during the 2nd quarter valued at approximately $246,000. BBR Partners LLC bought a new stake in Aeva Technologies in the second quarter valued at $1,512,000. Ameriprise Financial Inc. acquired a new position in shares of Aeva Technologies during the second quarter valued at $260,000. Finally, Raymond James Financial Inc. bought a new position in shares of Aeva Technologies during the second quarter worth about $2,512,000. 62.92% of the stock is currently owned by institutional investors.

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.