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 Friday . The stock had previously closed at $29.21, but opened at $28.31. Aeva Technologies shares last traded at $27.12, with a volume of 342,812 shares.

Analyst Ratings Changes

Several research firms have weighed in on AEVA. Roth Capital increased their target price on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Oppenheimer lifted their price target on Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Morgan Stanley lifted their price target on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Canaccord Genuity Group boosted their price objective on Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen upgraded 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.50.

Aeva Technologies Stock Down 7.1%

The stock has a market capitalization of $1.49 billion, a P/E ratio of -9.59 and a beta of 1.95. The stock's 50 day moving average price is $21.60 and its 200-day moving average price is $10.68.

Insider Activity

In related news, 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 completion of the transaction, the chief executive officer owned 1,897,862 shares in the company, valued at approximately $57,941,726.86. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 22,239 shares of Aeva Technologies stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $30.53, for a total value of $678,956.67. Following the transaction, the chief financial officer owned 970,710 shares of the company's stock, valued at $29,635,776.30. This represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,111,080 shares of company stock worth $18,014,103 in the last 90 days. 27.20% of the stock is owned by corporate insiders.

Institutional Trading of Aeva Technologies

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings 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. Intech Investment Management LLC bought a new position in shares of Aeva Technologies in the 4th quarter worth $52,000. American Century Companies Inc. raised its stake in shares of Aeva Technologies by 34.9% during the 4th quarter. American Century Companies Inc. now owns 25,689 shares of the company's stock worth $122,000 after purchasing an additional 6,640 shares during the period. LPL Financial LLC bought a new stake in Aeva Technologies in the 4th quarter valued at about $451,000. Finally, Geode Capital Management LLC boosted its stake in Aeva Technologies by 1.5% in 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 in 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.

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