Aeva Technologies (NASDAQ:AEVA) Trading Down 6.3% - Here's What Happened

Key Points

• Aeva Technologies (NASDAQ:AEVA) shares decreased by 6.3%, closing at $15.16, with trading volume dropping 87% from average levels.
• Recent analyst ratings include a price target increase from Roth Capital to $30.00 and an upgrade to "hold" from Wall Street Zen, with five analysts rating the stock as a Buy.
• Insider sales included CFO Saurabh Sinha selling 160,000 shares and CEO Soroush Salehian Dardashti selling 200,000 shares, reflecting a significant reduction in ownership stakes.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded down 6.3% during mid-day trading on Tuesday . The stock traded as low as $15.13 and last traded at $15.16. 244,789 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,865,255 shares. The stock had previously closed at $16.18.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AEVA shares. Morgan Stanley raised their price objective on Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Oppenheimer boosted their price target on Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Roth Capital lifted their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Finally, Wall Street Zen lowered shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Saturday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Stock Up 6.8%

The business has a 50 day moving average price of $17.44 and a 200 day moving average price of $15.37. The stock has a market cap of $1.03 billion, a PE ratio of -3.32 and a beta of 2.00.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The business had revenue of $5.51 million for the quarter, compared to analysts' expectations of $3.40 million. Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%. On average, research analysts predict that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 250,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $13.48, for a total value of $3,370,000.00. Following the completion of the sale, the chief technology officer owned 3,236,669 shares in the company, valued at approximately $43,630,298.12. This represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 160,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $13.33, for a total value of $2,132,800.00. Following the completion of the sale, the chief financial officer owned 810,710 shares of the company's stock, valued at $10,806,764.30. This trade represents a 16.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,822 shares of company stock valued at $13,961,215 over the last quarter. 27.20% of the stock is currently owned by insiders.

Institutional Trading of Aeva Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 415 shares during the period. Quantbot Technologies LP acquired a new position in Aeva Technologies in the 2nd quarter valued at about $36,000. Total Investment Management Inc. purchased a new stake in shares of Aeva Technologies in the 2nd quarter valued at approximately $43,000. AlphaQuest LLC acquired a new stake in Aeva Technologies during the second quarter worth $51,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Aeva Technologies by 356.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company's stock worth $80,000 after purchasing an additional 1,657 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.