Aeva Technologies (NASDAQ:AEVA) Shares Gap Up - Time to Buy?

Key Points

• Aeva Technologies shares surged 42%, opening at $25.80 versus a prior close of $19.61, and last trading near $25.54.
• Analyst sentiment remains mixed: Oppenheimer reaffirmed an “outperform” rating with a $42 price target, while Wall Street Zen downgraded the stock to “sell.” The consensus rating is “Hold,” with an average target of $33.
• Aeva beat quarterly EPS expectations, reporting a loss of $0.41 per share versus the estimated $0.53 loss, but insiders have sold 817,245 shares worth about $19.3 million over the past 90 days.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $19.61, but opened at $25.80. Aeva Technologies shares last traded at $25.54, with a volume of 1,467,464 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Oppenheimer reiterated an "outperform" rating and issued a $42.00 target price on shares of Aeva Technologies in a research note on Thursday. Finally, Weiss Ratings upgraded shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $33.00.

Aeva Technologies Trading Up 42.0%

The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -5.58 and a beta of 2.47. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The company's 50 day simple moving average is $21.62 and its two-hundred day simple moving average is $17.67.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. As a group, research analysts anticipate that Aeva Technologies, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Mina Rezk sold 350,000 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the transaction, the chief technology officer directly owned 1,706,669 shares in the company, valued at $41,932,857.33. The trade was a 17.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Saurabh Sinha sold 20,620 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $436,319.20. Following the transaction, the chief financial officer directly owned 658,202 shares in the company, valued at $13,927,554.32. This represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 817,245 shares of company stock worth $19,342,658 in the last ninety days. 36.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds have recently modified their holdings of AEVA. Titan Global Capital Management USA LLC boosted its stake in Aeva Technologies by 95.1% in the 1st quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company's stock worth $2,102,000 after purchasing an additional 77,856 shares in the last quarter. Sona Asset Management US LLC acquired a new position in Aeva Technologies during the 1st quarter valued at approximately $987,000. Walleye Capital LLC acquired a new position in Aeva Technologies during the 1st quarter valued at approximately $1,401,000. Siren L.L.C. purchased a new position in shares of Aeva Technologies in the first quarter worth $1,448,000. Finally, Melqart Asset Management UK Ltd raised its holdings in shares of Aeva Technologies by 45.1% in the fourth quarter. Melqart Asset Management UK Ltd now owns 547,436 shares of the company's stock worth $7,270,000 after buying an additional 170,096 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company's stock.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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