Aeva Technologies (NASDAQ:AEVA) Stock Price Up 6.5% - Still a Buy?

Key Points

• Aeva Technologies' stock price rose 6.5% to $17.22, despite a significant decline in trading volume, indicating a possible increase in market interest.
• Analyst ratings are mixed; while five analysts rate Aeva as a "Buy", Weiss Ratings maintains a "sell" rating and the consensus price target is $18.33.
• Insider sales have been substantial, with CTO Mina Rezk and CFO Saurabh Sinha reducing their stakes by 7.17% and 16.48%, respectively, raising concerns over insider confidence.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s share price rose 6.5% on Friday . The company traded as high as $17.30 and last traded at $17.22. Approximately 769,759 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 1,926,857 shares. The stock had previously closed at $16.17.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeva Technologies in a research note on Wednesday. Wall Street Zen cut shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, September 20th. Morgan Stanley raised 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 note on Friday, August 1st. Oppenheimer raised their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Roth Capital raised their price objective on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Aeva Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

Aeva Technologies Stock Performance

The stock has a market capitalization of $972.82 million, a P/E ratio of -3.14 and a beta of 2.02. The firm's 50-day simple moving average is $15.07 and its 200 day simple moving average is $16.64.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $5.51 million for the quarter, compared to analyst estimates of $3.40 million. Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%. As a group, research analysts expect that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 250,000 shares of the company's 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 transaction, 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 sale was disclosed in a 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 dated Monday, August 18th. The shares were 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 owned 810,710 shares in the company, valued at approximately $10,806,764.30. This trade represents a 16.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,658 shares of company stock worth $8,698,680. Insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock valued at $33,000 after buying an additional 415 shares during the last quarter. Quantbot Technologies LP acquired a new position in Aeva Technologies in the 2nd quarter valued at about $36,000. Total Investment Management Inc. bought a new stake in Aeva Technologies in the 2nd quarter valued at about $43,000. AlphaQuest LLC bought a new stake in Aeva Technologies in the 2nd quarter valued at about $51,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Aeva Technologies by 356.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company's stock valued at $80,000 after purchasing an additional 1,657 shares during the period. Institutional investors and hedge funds own 62.92% of the company's stock.

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.

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