Aeva Technologies (NASDAQ:AEVA) Stock Price Up 5.8% - Here's What Happened

Key Points

• Aeva Technologies' stock price rose 5.8% during trading, reaching a high of $15.95, with a notable decline in trading volume compared to the average.
• The company reported a loss of ($0.55) per share for the last quarter, missing expectations, despite achieving revenue of $5.51 million, which surpassed estimates.
• Analyst ratings are mixed, with five analysts giving a "Buy" rating and a consensus target price of $18.33, accompanied by significant upgrades from Oppenheimer and Roth Capital.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price rose 5.8% during trading on Thursday . The company traded as high as $15.95 and last traded at $15.81. Approximately 359,070 shares traded hands during trading, a decline of 81% from the average daily volume of 1,909,833 shares. The stock had previously closed at $14.95.

Analyst Upgrades and Downgrades

AEVA has been the topic of a number of recent analyst reports. Oppenheimer increased their price target 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. 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 research report on Tuesday, June 17th. Morgan Stanley increased their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, September 20th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Price Performance

The company's 50-day simple moving average is $15.59 and its two-hundred day simple moving average is $16.10. The firm has a market capitalization of $896.21 million, a P/E ratio of -2.89 and a beta of 2.02.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.51 million during 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%. Analysts predict that Aeva Technologies, Inc. will post -2.7 earnings per share for the current year.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 250,000 shares of Aeva Technologies stock in a transaction on 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 transaction, the chief technology officer directly owned 3,236,669 shares of the company's stock, valued at $43,630,298.12. This trade represents a 7.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Saurabh Sinha sold 160,000 shares of Aeva Technologies stock in a transaction on Monday, August 18th. The stock was sold at an average price of $13.33, for a total transaction of $2,132,800.00. Following the completion of the transaction, the chief financial officer directly owned 810,710 shares of the company's stock, valued at $10,806,764.30. The trade was a 16.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 808,699 shares of company stock valued at $13,646,491. Corporate insiders own 27.20% of the company's stock.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors have recently made changes to their positions in AEVA. Bank of America Corp DE lifted its holdings in shares of Aeva Technologies by 170.0% in the 4th 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 last quarter. Millennium Management LLC bought a new stake in Aeva Technologies during the 4th quarter valued at about $174,000. Two Sigma Investments LP lifted its holdings in Aeva Technologies by 308.6% during the 4th quarter. Two Sigma Investments LP now owns 74,288 shares of the company's stock valued at $353,000 after buying an additional 56,107 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Aeva Technologies by 307.9% during the 4th quarter. Two Sigma Advisers LP now owns 48,700 shares of the company's stock valued at $231,000 after buying an additional 36,760 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Aeva Technologies during the 4th quarter valued at about $54,000. Institutional investors own 62.92% of the company's stock.

About Aeva Technologies

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.

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