Aeva Technologies (NASDAQ:AEVA) Shares Up 1.1% - Still a Buy?

Key Points

• Aeva Technologies' share price increased by 1.1% recently, trading last at $22.25 after reaching a high of $23.42, despite a significant decline in trading volume.
• Analysts have mixed opinions on the stock, with one downgrade to "sell," while others, like Roth Capital, raised their target price to $30 and maintained a "buy" rating.
• Insider sales included a $2.49 million transaction by director Hrach Simonian, with insiders having sold a total of $16.25 million worth of shares in the last three months.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price shot up 1.1% during trading on Tuesday . The stock traded as high as $23.42 and last traded at $22.25. 580,791 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,665,784 shares. The stock had previously closed at $22.00.

Analyst Ratings Changes

Several research firms recently commented on AEVA. Canaccord Genuity Group increased their price target on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley increased their price target on Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday. Roth Capital increased their price target on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Oppenheimer increased their price target on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen cut Aeva Technologies from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

Aeva Technologies Price Performance

The firm has a 50 day simple moving average of $25.21 and a 200-day simple moving average of $12.76. The company has a market cap of $896.32 million, a price-to-earnings ratio of -5.76 and a beta of 1.95.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The business had revenue of $5.51 million for the quarter, compared to analyst estimates of $3.40 million. Aeva Technologies had a negative return on equity of 117.06% and a negative net margin of 1,470.09%. Research analysts anticipate that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Insider Transactions at Aeva Technologies

In other news, CTO Mina Rezk sold 250,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the completion of the transaction, the chief technology officer directly owned 8,046,669 shares in the company, valued at $126,332,703.30. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Saurabh Sinha sold 22,239 shares of the firm's stock in a transaction 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 approximately $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. In the last ninety days, insiders have sold 772,164 shares of company stock valued at $15,598,535. Corporate insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Aeva Technologies by 92.2% during the second quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after buying an additional 415 shares during the period. AlphaQuest LLC purchased a new position in Aeva Technologies in the second quarter valued at $51,000. Nisa Investment Advisors LLC boosted its holdings in Aeva Technologies by 356.3% in the second quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company's stock valued at $80,000 after purchasing an additional 1,657 shares during the period. Jones Financial Companies Lllp boosted its holdings in 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 purchasing an additional 5,469 shares during the period. Finally, Perennial Advisors LLC purchased a new position in Aeva Technologies in the second quarter valued at $227,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

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.