Aeva Technologies (NASDAQ:AEVA) Trading Up 6.4% - Still a Buy?

Key Points

• Aeva Technologies' stock price increased by 6.4%, reaching a last traded price of $16.32, fueled by a trading volume that rose by 32% compared to its daily average.
• Several analysts have upgraded their ratings on Aeva Technologies, with price targets increased significantly; Morgan Stanley now sets their target at $19.00 while Oppenheimer raises it to $33.00.
• In recent insider transactions, Aeva's CTO and CFO sold significant amounts of stock, decreasing their holdings by 7.17% and 16.48%, respectively, amidst a notable 27.20% insider ownership of the company.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) was up 6.4% during mid-day trading on Wednesday . The company traded as high as $16.68 and last traded at $16.32. Approximately 2,482,690 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 1,878,398 shares. The stock had previously closed at $15.34.

Wall Street Analyst Weigh In

A number of research firms recently commented on AEVA. Morgan Stanley lifted their price target on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen lowered Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Saturday. Roth Capital lifted their price objective 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. Finally, Oppenheimer upped their target price 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. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Aeva Technologies Stock Performance

The firm has a 50 day simple moving average of $17.44 and a two-hundred day simple moving average of $15.54. The stock has a market cap of $1.03 billion, a P/E 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) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%.The business had revenue of $5.51 million during the quarter, compared to the consensus estimate of $3.40 million. As a group, equities research analysts predict that Aeva Technologies, Inc. will post -2.7 EPS for the current year.

Insider Transactions at Aeva Technologies

In other news, CTO Mina Rezk sold 250,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $13.48, for a total value of $3,370,000.00. Following the transaction, the chief technology officer owned 3,236,669 shares of the company's stock, valued at $43,630,298.12. This represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Saurabh Sinha sold 36,658 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $13.80, for a total transaction of $505,880.40. Following the completion of the sale, the chief financial officer owned 774,052 shares of the company's stock, valued at approximately $10,681,917.60. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 818,822 shares of company stock valued at $13,961,215. 27.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AEVA. Osaic Holdings Inc. boosted its stake in shares of Aeva Technologies by 1,290.1% in the 2nd quarter. Osaic Holdings Inc. now owns 31,542 shares of the company's stock valued at $1,192,000 after purchasing an additional 29,273 shares in the last quarter. Total Investment Management Inc. purchased a new stake in shares of Aeva Technologies in the second quarter worth approximately $43,000. Tower Research Capital LLC TRC increased its position in shares of Aeva Technologies by 127.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company's stock valued at $163,000 after purchasing an additional 2,419 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in Aeva Technologies in the second quarter worth $246,000. Finally, BBR Partners LLC purchased a new position in Aeva Technologies during the second quarter worth about $1,512,000. Institutional investors and hedge funds 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.