Aeva Technologies (NASDAQ:AEVA) Stock Price Down 5.9% - Here's What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price fell 5.9% during mid-day trading on Wednesday . The stock traded as low as $26.74 and last traded at $26.98. 783,110 shares traded hands during trading, a decline of 48% from the average session volume of 1,492,876 shares. The stock had previously closed at $28.66.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AEVA. Morgan Stanley raised their price target on Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Canaccord Genuity Group lifted their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Roth Capital boosted their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Wall Street Zen raised shares of Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Oppenheimer lifted their price objective on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Aeva Technologies has a consensus rating of "Moderate Buy" and an average price target of $14.50.

Aeva Technologies Stock Performance

The firm's 50 day simple moving average is $18.68 and its 200 day simple moving average is $9.54. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -10.91 and a beta of 1.95.

Insider Buying and Selling at Aeva Technologies

In related news, CTO Mina Rezk sold 250,000 shares of Aeva Technologies stock in a transaction that occurred 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 approximately $126,332,703.30. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hrach Simonian sold 100,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $24.86, for a total value of $2,486,000.00. Following the completion of the transaction, the director directly owned 3,597,039 shares of the company's stock, valued at $89,422,389.54. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,928 shares of company stock valued at $12,909,369. 27.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in shares of Aeva Technologies by 27,345.0% during the 1st 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 in the last quarter. Intech Investment Management LLC acquired a new stake in Aeva Technologies during the fourth quarter valued at $52,000. Squarepoint Ops LLC purchased a new position in Aeva Technologies in the fourth quarter valued at $54,000. Susquehanna Fundamental Investments LLC purchased a new position in Aeva Technologies in the fourth quarter valued at $63,000. Finally, Advisory Services Network LLC acquired a new position in shares of Aeva Technologies in the fourth quarter worth about $78,000. Hedge funds and other institutional investors own 62.92% of the company's stock.

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.