Aeva Technologies (NASDAQ:AEVA) Stock Price Down 9.3% - Time to Sell?

Key Points

• Shares fell 9.3% to $12.88 on Friday with only ~385,158 shares traded—an 86% drop from the average daily volume of ~2.78 million, signaling a sharp intraday move on light volume.
• Significant insider selling: the CEO sold 488,160 shares at $12.96 and the CFO sold 60,000 shares at $20.64; insiders dumped >1.06 million shares last quarter but still own 27.20% of the stock.
• Mixed analyst view and stretched fundamentals: the stock has an average rating of "Hold" with a $26.50 average target (roughly double the current price), while the company posts a negative P/E (-2.49), market cap of ~$794M and a high debt-to-equity ratio (7.32).

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s share price was down 9.3% during trading on Friday . The stock traded as low as $12.88 and last traded at $12.88. Approximately 385,158 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,779,405 shares. The stock had previously closed at $14.20.

Analyst Upgrades and Downgrades

AEVA has been the subject of several analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Aeva Technologies in a report on Monday, December 29th. Canaccord Genuity Group reissued a "buy" rating and set a $24.00 price objective on shares of Aeva Technologies in a research report on Thursday, December 4th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aeva Technologies has an average rating of "Hold" and an average target price of $26.50.

Aeva Technologies Stock Performance

The company has a market capitalization of $794.40 million, a PE ratio of -2.49 and a beta of 2.09. The company has a current ratio of 4.28, a quick ratio of 2.95 and a debt-to-equity ratio of 7.32. The business's fifty day moving average is $14.51 and its two-hundred day moving average is $14.74.

Insider Transactions at Aeva Technologies

In related news, CFO Saurabh Sinha sold 60,000 shares of Aeva Technologies stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $20.64, for a total value of $1,238,400.00. Following the completion of the sale, the chief financial officer directly owned 627,756 shares in the company, valued at approximately $12,956,883.84. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Soroush Salehian Dardashti sold 488,160 shares of the business's stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $12.96, for a total value of $6,326,553.60. Following the completion of the transaction, the chief executive officer directly owned 1,831,199 shares of the company's stock, valued at approximately $23,732,339.04. This trade represents a 21.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,064,292 shares of company stock worth $15,170,040 over the last quarter. 27.20% of the stock is currently owned by insiders.

Institutional Trading of Aeva Technologies

A number of large investors have recently made changes to their positions in AEVA. Flight Deck Capital LP purchased a new stake in Aeva Technologies in the third quarter worth approximately $7,084,000. Delta Global Management LP purchased a new stake in Aeva Technologies during the 3rd quarter valued at $18,139,000. Employees Retirement System of Texas purchased a new stake in Aeva Technologies during the 2nd quarter valued at $2,859,000. Geode Capital Management LLC lifted its holdings in shares of Aeva Technologies by 28.7% during the 2nd quarter. Geode Capital Management LLC now owns 808,205 shares of the company's stock valued at $30,548,000 after buying an additional 180,269 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Aeva Technologies by 3,299.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company's stock worth $8,115,000 after buying an additional 543,173 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.