Aeva Technologies (NASDAQ:AEVA) Shares Up 8.4% - Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded up 8.4% on Thursday . The company traded as high as $31.70 and last traded at $31.63. 552,327 shares changed hands during trading, a decline of 59% from the average session volume of 1,357,318 shares. The stock had previously closed at $29.17.

Wall Street Analyst Weigh In

A number of research firms have 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 research note on Thursday, May 15th. Morgan Stanley increased their price target on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Oppenheimer increased their price target on Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Roth Capital raised their price objective on Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

Aeva Technologies Stock Up 15.0%

The stock has a market capitalization of $1.85 billion, a PE ratio of -11.86 and a beta of 1.66. The firm has a 50 day moving average price of $16.01 and a 200-day moving average price of $8.54.

Insider Buying and Selling

In related news, Director Hrach Simonian sold 100,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $24.86, for a total transaction of $2,486,000.00. Following the sale, the director now directly owns 3,597,039 shares of the company's stock, valued at $89,422,389.54. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mina Rezk sold 125,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $6.34, for a total value of $792,500.00. Following the sale, the chief technology officer now directly owns 8,421,669 shares in the company, valued at approximately $53,393,381.46. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 967,228 shares of company stock valued at $12,964,119 over the last ninety days. Company insiders own 27.20% of the company's stock.

Institutional Trading of Aeva Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in Aeva Technologies by 170.0% during the fourth quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock worth $229,000 after acquiring an additional 30,380 shares during the period. Deutsche Bank AG grew its holdings in Aeva Technologies by 510.8% during the fourth quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock worth $214,000 after acquiring an additional 37,665 shares during the period. Millennium Management LLC acquired a new stake in Aeva Technologies during the fourth quarter worth about $174,000. Two Sigma Investments LP grew its holdings in Aeva Technologies by 308.6% during the fourth quarter. Two Sigma Investments LP now owns 74,288 shares of the company's stock worth $353,000 after acquiring an additional 56,107 shares during the period. Finally, Jane Street Group LLC grew its holdings in Aeva Technologies by 2,490.3% in the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock valued at $3,082,000 after purchasing an additional 623,889 shares during the period. 62.92% of the stock is owned by institutional investors and hedge funds.

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.