Aeva Technologies (NASDAQ:AEVA) Shares Up 2.5% - Here's What Happened

Key Points

• The stock price of Aeva Technologies (NASDAQ:AEVA) increased by 2.5%, closing at $22.03 with a trading volume decline of 62% from its average.
• Several analysts provided contrasting ratings, with Wall Street Zen downgrading the stock to a "sell," while Canaccord Genuity and Oppenheimer set higher target prices and issued "buy" ratings.
• Insider trading activity revealed significant share sales by company executives, with a total of 859,053 shares sold worth over $16 million in the past three months.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded up 2.5% during trading on Monday . The company traded as high as $22.33 and last traded at $22.03. 636,341 shares changed hands during trading, a decline of 62% from the average session volume of 1,663,275 shares. The stock had previously closed at $21.49.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Roth Capital increased their price objective on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Canaccord Genuity Group increased their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley increased their price objective on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Oppenheimer increased their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Aeva Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Aeva Technologies Stock Performance

The firm's 50 day moving average price is $25.16 and its two-hundred day moving average price is $12.66. The firm has a market cap of $1.03 billion, a PE ratio of -6.59 and a beta of 1.95.

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 for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Aeva Technologies had a negative net margin of 1,470.09% and a negative return on equity of 117.06%. On average, analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current year.

Insider Activity at Aeva Technologies

In related news, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were 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 executive officer owned 3,514,808 shares of the company's stock, valued at approximately $55,182,485.60. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Saurabh Sinha sold 22,239 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $30.53, for a total transaction of $678,956.67. Following the sale, the chief financial officer owned 970,710 shares in the company, valued at approximately $29,635,776.30. This trade represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 859,053 shares of company stock worth $16,254,547. Company insiders own 27.20% of the company's stock.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in shares of Aeva Technologies by 34.9% in the 4th quarter. American Century Companies Inc. now owns 25,689 shares of the company's stock valued at $122,000 after purchasing an additional 6,640 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Aeva Technologies in the 4th quarter valued at $451,000. Geode Capital Management LLC raised its holdings in shares of Aeva Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 621,191 shares of the company's stock valued at $2,951,000 after purchasing an additional 9,318 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Aeva Technologies in the 4th quarter valued at $78,000. Finally, Barclays PLC raised its holdings in shares of Aeva Technologies by 16.3% in the 4th quarter. Barclays PLC now owns 34,800 shares of the company's stock valued at $166,000 after purchasing an additional 4,890 shares in the last quarter. 62.92% of the stock is currently 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.