Aeva Technologies (NASDAQ:AEVA) Shares Down 9.7% on Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded down 9.7% on Thursday following insider selling activity. The stock traded as low as $27.63 and last traded at $27.91. 1,445,737 shares changed hands during trading, a decline of 8% from the average session volume of 1,571,817 shares. The stock had previously closed at $30.92.

Specifically, CTO Mina Rezk sold 69,901 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $30.54, for a total value of $2,134,776.54. Following the transaction, the chief technology officer directly owned 1,575,273 shares in the company, valued at approximately $48,108,837.42. This trade represents a 4.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Soroush Salehian Dardashti sold 69,901 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $30.53, for a total transaction of $2,134,077.53. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In other Aeva Technologies news, CFO Saurabh Sinha sold 22,239 shares of the firm'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 $678,956.67. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Roth Capital raised their price target on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Morgan Stanley raised their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Canaccord Genuity Group raised their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Oppenheimer raised their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Aeva Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

Aeva Technologies Trading Down 10.6%

The business's fifty day moving average price is $21.97 and its 200 day moving average price is $10.91. The company has a market capitalization of $1.44 billion, a P/E ratio of -9.22 and a beta of 1.95.

Hedge Funds Weigh In On Aeva Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in AEVA. 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 last quarter. Parkwood LLC grew its stake in Aeva Technologies by 415.7% during the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock worth $6,776,000 after buying an additional 1,150,000 shares during the last quarter. Jane Street Group LLC grew its stake in Aeva Technologies by 2,490.3% during the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock worth $3,082,000 after buying an additional 623,889 shares during the last quarter. Geode Capital Management LLC grew its stake in Aeva Technologies by 1.5% during 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. grew its stake 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 buying an additional 30,924 shares during the last quarter. 62.92% of the stock is owned by 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.