Aeva Technologies (NASDAQ:AEVA) Shares Up 7% - Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded up 7% during trading on Wednesday . The stock traded as high as $23.81 and last traded at $23.81. 696,397 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 1,252,654 shares. The stock had previously closed at $22.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday. Canaccord Genuity Group upped their target price on Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley upped their target price on Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Roth Capital upped their target price on Aeva Technologies from $6.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Oppenheimer upped their target price on Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.33.

Aeva Technologies Stock Down 2.6%

The stock's 50-day moving average is $12.79 and its 200-day moving average is $7.30. The firm has a market cap of $1.27 billion, a P/E ratio of -7.46 and a beta of 1.66.

Insider Buying and Selling

In other news, major shareholder Sylebra Capital Llc bought 990,411 shares of Aeva Technologies stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $4.36 per share, with a total value of $4,318,191.96. Following the completion of the transaction, the insider now directly owns 11,369,715 shares in the company, valued at $49,571,957.40. This trade represents a 9.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Soroush Salehian Dardashti 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 value of $3,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,514,808 shares of the company's stock, valued at approximately $55,182,485.60. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 4,213,506 shares of company stock valued at $24,985,345 and have sold 1,067,228 shares valued at $11,550,119. 27.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AEVA. Rhumbline Advisers raised its stake in Aeva Technologies by 13.2% during the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company's stock worth $255,000 after acquiring an additional 6,238 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Aeva Technologies in the fourth quarter valued at $88,000. Charles Schwab Investment Management Inc. increased its stake in shares of Aeva Technologies by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company's stock valued at $1,151,000 after buying an additional 30,924 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Aeva Technologies in the fourth quarter valued at $52,000. Finally, American Century Companies Inc. increased its stake in shares of Aeva Technologies by 34.9% in the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company's stock valued at $122,000 after buying an additional 6,640 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.