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

Key Points

• Aeva shares gapped down — the stock fell from a $16.57 close to an $15.30 open and was last quoted at $14.11 on volume of about 758,789 shares.
• Analyst consensus is "Hold" with an average price target of $26.50, reflecting a mix of three Buy, one Hold and one Sell ratings.
• Insider and institutional positioning is mixed — CFO Saurabh Sinha sold 32,079 shares recently, insiders own 27.20% of the stock while institutional investors hold about 62.92%.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $16.57, but opened at $15.30. Aeva Technologies shares last traded at $14.11, with a volume of 758,789 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AEVA shares. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Aeva Technologies in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Aeva Technologies presently has a consensus rating of "Hold" and an average target price of $26.50.

Aeva Technologies Price Performance

The stock has a market capitalization of $847.71 million, a P/E ratio of -2.65 and a beta of 2.20. The firm has a 50-day moving average price of $14.59 and a 200 day moving average price of $14.35. The company has a debt-to-equity ratio of 7.32, a quick ratio of 4.12 and a current ratio of 4.28.

Insiders Place Their Bets

In related news, CFO Saurabh Sinha sold 32,079 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the completion of the sale, the chief financial officer directly owned 595,677 shares in the company, valued at $8,303,737.38. This represents a 5.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 27.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors have recently bought and sold shares of AEVA. AQR Capital Management LLC boosted its holdings in Aeva Technologies by 29.2% during the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company's stock valued at $146,000 after acquiring an additional 4,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Aeva Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock valued at $96,000 after purchasing an additional 630 shares during the last quarter. Jones Financial Companies Lllp raised 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 purchasing an additional 5,469 shares during the last quarter. Prudential Financial Inc. bought a new position in Aeva Technologies during the 2nd quarter valued at approximately $446,000. Finally, Russell Investments Group Ltd. bought a new position in Aeva Technologies during the 2nd quarter valued at approximately $1,239,000. 62.92% of the stock is currently 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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