Aeva Technologies (NASDAQ:AEVA) Stock Price Up 8.9% on Analyst Upgrade

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) rose 8.9% on Thursday after Oppenheimer raised their price target on the stock from $18.00 to $33.00. Oppenheimer currently has an outperform rating on the stock. Aeva Technologies traded as high as $30.28 and last traded at $30.01. Approximately 1,385,121 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 1,611,232 shares. The stock had previously closed at $27.56.

Several other brokerages have also recently weighed in on AEVA. Morgan Stanley lifted their price target on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Roth Capital lifted their price objective on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Canaccord Genuity Group lifted their price objective on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 22,239 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $30.53, for a total transaction of $678,956.67. Following the completion of the sale, the chief financial officer directly owned 970,710 shares in the company, valued at $29,635,776.30. This represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hrach Simonian sold 100,000 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $24.86, for a total value of $2,486,000.00. Following the sale, the director owned 3,597,039 shares of the company's stock, valued at $89,422,389.54. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,022,164 shares of company stock valued at $17,337,453 over the last three months. 27.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors have recently bought and sold shares of AEVA. Bank of America Corp DE increased its holdings in Aeva Technologies by 170.0% during the 4th quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock valued at $229,000 after purchasing an additional 30,380 shares during the period. Deutsche Bank AG increased its holdings in Aeva Technologies by 510.8% during the 4th quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock valued at $214,000 after purchasing an additional 37,665 shares during the period. Millennium Management LLC purchased a new position in Aeva Technologies during the 4th quarter valued at about $174,000. Two Sigma Investments LP increased 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 purchasing an additional 56,107 shares during the period. Finally, Jane Street Group LLC increased its holdings in Aeva Technologies by 2,490.3% during the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock valued at $3,082,000 after purchasing an additional 623,889 shares during the period. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

Aeva Technologies Trading Up 10.8%

The company has a market cap of $1.68 billion, a PE ratio of -10.79 and a beta of 1.95. The business has a fifty day moving average of $23.06 and a 200-day moving average of $11.29.

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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