Aeva Technologies (NASDAQ:AEVA) Stock Price Up 7.4% - Time to Buy?

Key Points

• Aeva Technologies' stock rose by 7.4%, closing at $15.35 after trading as high as $15.37, despite a significant drop in trading volume.
• Aeva received multiple upgrades from analysts, with price targets raised significantly, including Roth Capital's target of $30.00 and Oppenheimer's target of $33.00.
• Insider selling has been notable, with the CTO selling 250,000 shares for approximately $3.37 million, reflecting a 7.17% decrease in their position.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded up 7.4% during mid-day trading on Thursday . The company traded as high as $15.37 and last traded at $15.35. 331,188 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,861,254 shares. The stock had previously closed at $14.29.

Analyst Upgrades and Downgrades

Several brokerages have commented on AEVA. Morgan Stanley raised their price target on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Oppenheimer lifted 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. Roth Capital lifted 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. Finally, Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Aeva Technologies Stock Down 5.2%

The firm has a market cap of $864.07 million, a price-to-earnings ratio of -2.79 and a beta of 2.00. The stock's 50 day moving average is $18.41 and its 200 day moving average is $15.16.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $3.40 million. Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%. Analysts anticipate that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 200,000 shares of Aeva Technologies stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total value of $2,690,000.00. Following the transaction, the chief executive officer owned 2,134,808 shares in the company, valued at approximately $28,713,167.60. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Mina Rezk sold 250,000 shares of Aeva Technologies stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $13.48, for a total transaction of $3,370,000.00. Following the completion of the transaction, the chief technology officer owned 3,236,669 shares in the company, valued at approximately $43,630,298.12. This trade represents a 7.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 818,822 shares of company stock worth $13,961,215. 27.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Aeva Technologies by 92.2% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after purchasing an additional 415 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Aeva Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after purchasing an additional 630 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Aeva Technologies by 4.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 17,731 shares of the company's stock worth $670,000 after purchasing an additional 808 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Aeva Technologies by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company's stock worth $433,000 after purchasing an additional 884 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Aeva Technologies during the 2nd quarter worth approximately $36,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

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.