Aeva Technologies (NASDAQ:AEVA) Shares Gap Down - Time to Sell?

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

A number of brokerages have recently commented on AEVA. Roth Capital lifted their price target on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Canaccord Genuity Group lifted their target price 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. Morgan Stanley boosted their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen raised shares of Aeva Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Oppenheimer lifted their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a report 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

Aeva Technologies Stock Up 3.8%

The firm's 50 day simple moving average is $14.72 and its two-hundred day simple moving average is $8.09. The stock has a market capitalization of $1.44 billion, a P/E ratio of -9.22 and a beta of 1.65.

Insider Activity

In other Aeva Technologies news, major shareholder Sylebra Capital Llc purchased 821,610 shares of Aeva Technologies stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of $5.48 per share, with a total value of $4,502,422.80. Following the transaction, the insider now owns 12,669,326 shares in the company, valued at $69,427,906.48. This trade represents a 6.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $5.36, for a total transaction of $1,072,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,764,808 shares in the company, valued at $20,179,370.88. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 3,223,095 shares of company stock worth $20,667,153 and sold 1,167,228 shares worth $14,036,119. 27.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Aeva Technologies by 4.8% in the first 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 in the last quarter. AQR Capital Management LLC lifted its stake 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 in the last quarter. Barclays PLC boosted its holdings in Aeva Technologies by 16.3% during the 4th quarter. Barclays PLC now owns 34,800 shares of the company's stock worth $166,000 after acquiring an additional 4,890 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after acquiring an additional 5,469 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Aeva Technologies by 13.2% in the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company's stock valued at $255,000 after purchasing an additional 6,238 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company's stock.

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.

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