Aeva Technologies (NASDAQ:AEVA) Shares Gap Down - Here's What Happened

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $25.13, but opened at $24.03. Aeva Technologies shares last traded at $26.48, with a volume of 486,180 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. 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 increased their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Oppenheimer increased their target price on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Roth Capital increased their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Finally, Canaccord Genuity Group increased their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Aeva Technologies currently has an average rating of "Moderate Buy" and an average price target of $14.50.

Aeva Technologies Stock Performance

The stock has a market capitalization of $1.85 billion, a PE ratio of -11.86 and a beta of 1.66. The stock's 50 day moving average is $16.01 and its two-hundred day moving average is $8.54.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, Director Hrach Simonian sold 100,000 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $24.86, for a total value of $2,486,000.00. Following the completion of the sale, the director now owns 3,597,039 shares in the company, valued at approximately $89,422,389.54. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 1,333,188 shares of the business's stock in a transaction on Friday, March 28th. The stock was acquired at an average price of $6.70 per share, with a total value of $8,932,359.60. Following the acquisition, the insider now owns 15,160,256 shares in the company, valued at $101,573,715.20. The trade was a 9.64% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 967,228 shares of company stock valued at $12,964,119. 27.20% of the stock is owned by corporate insiders.

Institutional Trading of Aeva Technologies

A number of hedge funds have recently bought and sold shares of the business. Sylebra Capital LLC raised its holdings in Aeva Technologies by 56.4% in the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock valued at $113,600,000 after acquiring an additional 5,849,249 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after buying an additional 5,469 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 buying an additional 630 shares during the period. AQR Capital Management LLC lifted its holdings in Aeva Technologies by 29.2% in the first 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 last quarter. Finally, American Century Companies Inc. grew its position in Aeva Technologies by 81.5% in the first quarter. American Century Companies Inc. now owns 46,623 shares of the company's stock worth $326,000 after acquiring an additional 20,934 shares during the period. 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.