Aeva Technologies (NASDAQ:AEVA) Shares Gap Up - Here's Why

Key Points

• Aeva Technologies shares gapped up from a previous close of $21.49 to an opening price of $22.24, and are currently trading at $22.01 with a volume of 459,779 shares.
• Analyst ratings vary, with Oppenheimer raising its target price to $33.00 while Wall Street Zen downgraded its recommendation to “sell”; the stock holds a consensus rating of "Moderate Buy."
• Insider transactions include CEO Soroush Salehian Dardashti selling 250,000 shares for approximately $3.93 million, indicating a decrease in his ownership position by 6.64%.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $21.49, but opened at $22.24. Aeva Technologies shares last traded at $22.01, with a volume of 459,779 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on AEVA. Oppenheimer lifted their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. 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. Wall Street Zen cut shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Morgan Stanley raised their price target 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. Finally, Roth Capital raised their price target on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

Aeva Technologies Stock Up 0.9%

The firm's fifty day moving average price is $24.81 and its two-hundred day moving average price is $12.44. The stock has a market capitalization of $1.19 billion, a PE ratio of -7.66 and a beta of 1.95.

Insider Activity at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 250,000 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.70, for a total value of $3,925,000.00. Following the completion of the sale, the chief executive officer owned 3,514,808 shares in the company, valued at approximately $55,182,485.60. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Saurabh Sinha sold 22,239 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $30.53, for a total transaction of $678,956.67. Following the completion of the sale, the chief financial officer owned 970,710 shares of the company's stock, valued at $29,635,776.30. This trade represents a 2.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 859,053 shares of company stock worth $16,254,547 in the last three months. Insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sylebra Capital LLC grew its position in shares of Aeva Technologies by 56.4% in the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock worth $113,600,000 after buying an additional 5,849,249 shares during the last quarter. Parkwood LLC boosted its stake in Aeva Technologies by 415.7% in the 4th quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock worth $6,776,000 after purchasing an additional 1,150,000 shares in the last quarter. Jane Street Group LLC boosted its stake in Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock worth $3,082,000 after purchasing an additional 623,889 shares in the last quarter. Geode Capital Management LLC boosted its stake in Aeva Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 621,191 shares of the company's stock worth $2,951,000 after purchasing an additional 9,318 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Aeva Technologies by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company's stock worth $1,151,000 after purchasing an additional 30,924 shares in the last quarter. Hedge funds and other institutional investors 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.

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