Aeva Technologies (NASDAQ:AEVA) Trading Down 8.5% - Here's What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) fell 8.5% during trading on Monday . The stock traded as low as $29.08 and last traded at $29.50. 1,318,064 shares were traded during mid-day trading, a decline of 19% from the average session volume of 1,635,749 shares. The stock had previously closed at $32.23.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AEVA. Morgan Stanley raised their price objective on Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Canaccord Genuity Group raised their price target on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Roth Capital increased their target price on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Finally, Oppenheimer increased their target price on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Aeva Technologies Stock Performance

The stock has a fifty day moving average of $24.75 and a 200-day moving average of $12.21. The company has a market cap of $1.30 billion, a PE ratio of -8.33 and a beta of 1.95.

Insider Transactions at Aeva Technologies

In other news, CFO Saurabh Sinha sold 22,239 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 970,710 shares of the company's stock, valued at approximately $29,635,776.30. The trade was a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mina Rezk sold 69,901 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $30.54, for a total value of $2,134,776.54. Following the completion of the transaction, the chief technology officer directly owned 1,575,273 shares of the company's stock, valued at approximately $48,108,837.42. The trade was a 4.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 897,164 shares of company stock valued at $16,544,953 over the last 90 days. 27.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after acquiring an additional 415 shares in the last quarter. Jones Financial Companies Lllp increased its position in Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after buying an additional 5,469 shares in the last quarter. Intech Investment Management LLC acquired a new position in Aeva Technologies during the 4th quarter valued at about $52,000. Squarepoint Ops LLC acquired a new position in Aeva Technologies during the 4th quarter valued at about $54,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Aeva Technologies during the 4th quarter valued at about $63,000. 62.92% of the stock is 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.