Aeva Technologies (NASDAQ:AEVA) Stock Price Up 6.6% - Should You Buy?

Key Points

• Aeva Technologies shares rose 6.6% to $17.54, though trading volume was 84% below the stock’s average session volume.
• Analysts have a mixed outlook, with one Buy, one Hold and one Sell rating; the consensus is “Hold” with an average price target of $21.50.
• The company beat quarterly loss estimates, reporting an adjusted EPS loss of $0.41 versus the expected $0.53 loss, but insiders have sold 891,360 shares worth about $20.5 million over the past 90 days.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) were up 6.6% during trading on Friday . The stock traded as high as $17.89 and last traded at $17.54. Approximately 363,545 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,316,814 shares. The stock had previously closed at $16.46.

Analysts Set New Price Targets

Several research firms have issued reports on AEVA. Weiss Ratings raised shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Aeva Technologies currently has a consensus rating of "Hold" and an average price target of $21.50.

Aeva Technologies Price Performance

The firm has a fifty day moving average of $22.26 and a two-hundred day moving average of $17.69. The stock has a market capitalization of $1.10 billion, a P/E ratio of -3.49 and a beta of 2.40. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. On average, analysts predict that Aeva Technologies, Inc. will post -2.26 EPS for the current year.

Insider Activity

In related news, CEO Soroush Salehian Dardashti sold 225,349 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $5,536,824.93. Following the transaction, the chief executive officer directly owned 1,659,957 shares of the company's stock, valued at $40,785,143.49. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Saurabh Sinha sold 20,620 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $436,319.20. Following the completion of the transaction, the chief financial officer directly owned 658,202 shares of the company's stock, valued at $13,927,554.32. This trade represents a 3.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 891,360 shares of company stock worth $20,457,348. Corporate insiders own 36.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AEVA. Quantbot Technologies LP boosted its position in Aeva Technologies by 122.8% during the third quarter. Quantbot Technologies LP now owns 2,099 shares of the company's stock valued at $30,000 after purchasing an additional 1,157 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Aeva Technologies in the fourth quarter worth about $33,000. Jones Financial Companies Lllp lifted its position in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after buying an additional 5,469 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Aeva Technologies in the 4th quarter valued at about $47,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Aeva Technologies by 79.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company's stock valued at $58,000 after buying an additional 1,922 shares in the last quarter. 62.92% of the stock is owned by institutional investors.

About Aeva Technologies

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.

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