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

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) fell 9.7% during trading on Thursday after an insider sold shares in the company. The company traded as low as $27.63 and last traded at $27.91. 1,445,737 shares traded hands during mid-day 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 business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $30.54, for a total transaction of $2,134,776.54. Following the completion of the sale, the chief technology officer directly owned 1,575,273 shares of the company's stock, valued at $48,108,837.42. The trade was a 4.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $2,134,077.53. Following the sale, the chief executive officer directly owned 1,897,862 shares of the company's stock, valued at $57,941,726.86. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Saurabh Sinha sold 22,239 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 transaction of $678,956.67. Following the completion of the sale, the chief financial officer directly owned 970,710 shares of the company's stock, valued at $29,635,776.30. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

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

Aeva Technologies Stock Performance

The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -9.22 and a beta of 1.95. The business's fifty day simple moving average is $21.97 and its 200 day simple moving average is $10.83.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Aeva Technologies by 170.0% in the 4th quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock worth $229,000 after buying an additional 30,380 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Aeva Technologies by 510.8% in the 4th quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock valued at $214,000 after purchasing an additional 37,665 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Aeva Technologies in the 4th quarter valued at about $174,000. Two Sigma Investments LP raised its stake in shares of Aeva Technologies by 308.6% in the 4th quarter. Two Sigma Investments LP now owns 74,288 shares of the company's stock valued at $353,000 after purchasing an additional 56,107 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock valued at $3,082,000 after purchasing an additional 623,889 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company's stock.

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.