Aeva Technologies (NASDAQ:AEVA) Shares Gap Down - What's Next?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $37.79, but opened at $36.04. Aeva Technologies shares last traded at $31.53, with a volume of 2,103,899 shares changing hands.

Analyst Upgrades and Downgrades

AEVA has been the topic of a number of analyst reports. Oppenheimer upped their price target on Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Canaccord Genuity Group upped their price target on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Morgan Stanley increased their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Roth Capital boosted 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Aeva Technologies presently has an average rating of "Moderate Buy" and an average target price of $14.50.

Aeva Technologies Price Performance

The business's 50-day moving average is $17.75 and its two-hundred day moving average is $9.26. The firm has a market cap of $1.50 billion, a P/E ratio of -9.63 and a beta of 1.65.

Insider Activity

In other Aeva Technologies news, Director Hrach Simonian sold 100,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $24.86, for a total transaction of $2,486,000.00. Following the transaction, the director owned 3,597,039 shares of the company's stock, valued at $89,422,389.54. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the completion of the sale, the chief executive officer owned 3,514,808 shares of the company's stock, valued at approximately $55,182,485.60. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,928 shares of company stock worth $12,909,369 in the last quarter. Corporate insiders own 27.20% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

Several large investors have recently modified their holdings of AEVA. Jones Financial Companies Lllp boosted its position in shares of Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after acquiring an additional 5,469 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Aeva Technologies in the 4th quarter valued at approximately $52,000. Squarepoint Ops LLC acquired a new stake in Aeva Technologies in the fourth quarter valued at approximately $54,000. Susquehanna Fundamental Investments LLC bought a new stake in Aeva Technologies during the 4th quarter worth $63,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after purchasing an additional 630 shares during 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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