Aeva Technologies (NASDAQ:AEVA) Shares Up 10.6% - Time to Buy?

Key Points

• Aeva Technologies shares jumped 10.6% on Tuesday, trading as high as $17.75 after closing at $15.90 the prior day. Trading volume was well below average.
• Analyst sentiment is mixed: one firm recently downgraded the stock to sell, while MarketBeat data shows an overall Hold rating and an average target price of $21.50.
• The company reported a smaller-than-expected loss in its latest quarterly results, posting EPS of -$0.41 versus estimates of -$0.53, though revenue came in at just $6.26 million and insiders have been selling shares recently.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) shot up 10.6% during trading on Tuesday . The company traded as high as $17.75 and last traded at $17.59. Approximately 504,487 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,371,202 shares. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

Several brokerages recently commented on AEVA. Wall Street Zen cut Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.50.

Aeva Technologies Trading Up 11.3%

The firm has a market cap of $1.12 billion, a P/E ratio of -3.55 and a beta of 2.40. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. The company's fifty day moving average price is $22.98 and its two-hundred day moving average price is $17.67.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.12. The firm had revenue of $6.26 million for the quarter. As a group, sell-side analysts predict that Aeva Technologies, Inc. will post -2.26 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen Paul Zadesky sold 2,984 shares of Aeva Technologies stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $25.41, for a total value of $75,823.44. Following the completion of the transaction, the director owned 92,898 shares in the company, valued at approximately $2,360,538.18. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Soroush Salehian Dardashti sold 64,821 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total value of $1,371,612.36. Following the completion of the transaction, the chief executive officer directly owned 1,595,136 shares in the company, valued at $33,753,077.76. The trade was a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 863,922 shares of company stock worth $20,034,803. Corporate insiders own 36.70% of the company's stock.

Institutional Trading of Aeva Technologies

Large investors have recently made changes to their positions in the business. Titan Global Capital Management USA LLC increased its stake in shares of 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 valued at $2,102,000 after buying an additional 77,856 shares during the period. Melqart Asset Management UK Ltd raised its position in shares of Aeva Technologies by 45.1% during the fourth quarter. Melqart Asset Management UK Ltd now owns 547,436 shares of the company's stock worth $7,270,000 after acquiring an additional 170,096 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Aeva Technologies by 158.3% during the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company's stock valued at $19,202,000 after acquiring an additional 885,774 shares during the period. Delta Global Management LP lifted its stake in shares of Aeva Technologies by 29.7% during the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company's stock valued at $21,555,000 after acquiring an additional 372,159 shares during the period. Finally, UBS Group AG boosted its holdings in Aeva Technologies by 85.2% in the fourth quarter. UBS Group AG now owns 374,955 shares of the company's stock valued at $4,979,000 after acquiring an additional 172,476 shares during the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.