Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price fell 8.5% during mid-day trading on Monday . The stock traded as low as $29.08 and last traded at $29.50. 1,318,064 shares changed hands during 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 equities analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley upped their price objective on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen cut Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Friday. Oppenheimer boosted their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Roth Capital raised 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.00.
Read Our Latest Report on AEVA
Aeva Technologies Stock Down 17.6%
The stock has a 50-day moving average of $23.89 and a 200 day moving average of $11.75. The company has a market capitalization of $1.46 billion, a PE ratio of -9.39 and a beta of 1.95.
Insider Activity at Aeva Technologies
In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 69,901 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $30.53, for a total value of $2,134,077.53. Following the sale, the chief executive officer owned 1,897,862 shares in the company, valued at $57,941,726.86. The trade was a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Saurabh Sinha sold 22,239 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $30.53, for a total transaction of $678,956.67. Following the completion of the sale, 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 897,164 shares of company stock worth $16,544,953. 27.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Aeva Technologies
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sylebra Capital LLC grew its stake in Aeva Technologies by 56.4% during the first quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock worth $113,600,000 after buying an additional 5,849,249 shares during the period. Parkwood LLC increased its stake in Aeva Technologies by 415.7% in the 4th quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock valued at $6,776,000 after buying an additional 1,150,000 shares during the period. Jane Street Group LLC increased its stake in shares of Aeva Technologies by 2,490.3% during the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock worth $3,082,000 after purchasing an additional 623,889 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Aeva Technologies by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 621,191 shares of the company's stock worth $2,951,000 after buying an additional 9,318 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Aeva Technologies by 14.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company's stock worth $1,151,000 after acquiring an additional 30,924 shares during the period. Hedge funds and other institutional investors own 62.92% of the company's stock.
About Aeva Technologies
(
Get Free Report)
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.
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