Aeva Technologies (NASDAQ:AEVA) Shares Down 7.8% - Should You Sell?

Key Points

• Aeva Technologies shares fell 7.8% in midday trading, dropping to as low as $14.79 after closing at $16.10 the previous day. Trading volume was also far below normal, signaling weaker participation in the selloff.
• Recent analyst activity has been mixed, but the overall view is cautious: the stock currently carries a “Hold” average rating with a $21.50 price target. One firm upgraded AEVA slightly, while another downgraded it to Sell.
• Despite a recent earnings beat, the company reported a net loss of $0.41 per share and analysts expect it to remain unprofitable this year. Insider selling has also been notable, including large share sales by the CEO and CTO in June.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) shares fell 7.8% during mid-day trading on Friday . The stock traded as low as $14.79 and last traded at $14.85. Approximately 323,089 shares traded hands during trading, a decline of 86% from the average session volume of 2,343,131 shares. The stock had previously closed at $16.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AEVA shares. Weiss Ratings upgraded shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $21.50.

Aeva Technologies Price Performance

The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09. The firm has a fifty day simple moving average of $22.78 and a two-hundred day simple moving average of $17.75. The firm has a market cap of $967.03 million, a PE ratio of -3.07 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.12. The firm had revenue of $6.26 million for the quarter. Equities analysts predict that Aeva Technologies, Inc. will post -2.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 225,349 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $5,536,824.93. Following the transaction, the chief executive officer owned 1,659,957 shares in the company, valued at $40,785,143.49. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mina Rezk sold 350,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the completion of the sale, the chief technology officer directly owned 1,706,669 shares in the company, valued at approximately $41,932,857.33. This represents a 17.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 863,922 shares of company stock worth $20,034,803. Corporate insiders own 36.70% of the company's stock.

Institutional Trading of Aeva Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after acquiring an additional 630 shares during the period. The Manufacturers Life Insurance Company grew its stake in Aeva Technologies by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company's stock worth $433,000 after purchasing an additional 884 shares in the last quarter. Quantbot Technologies LP purchased a new position in Aeva Technologies during the 2nd quarter worth $36,000. Rockefeller Capital Management L.P. increased its holdings in Aeva Technologies by 19.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company's stock worth $95,000 after purchasing an additional 1,159 shares during the period. Finally, MetLife Investment Management LLC raised its position in Aeva Technologies by 7.6% during the 4th quarter. MetLife Investment Management LLC now owns 20,001 shares of the company's stock valued at $266,000 after purchasing an additional 1,409 shares in the last quarter. 62.92% of the stock is owned by hedge funds and other institutional investors.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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