Aeva Technologies (NASDAQ:AEVA) Stock Rating Upgraded by Wall Street Zen

Key Points

• Aeva Technologies' stock rating was upgraded from "sell" to "hold" by Wall Street Zen, while the consensus rating remains a "Moderate Buy" with a target price of $18.33.
• The company reported a negative EPS of ($0.55) for the last quarter, missing estimates, but exceeded revenue expectations with $5.51 million in revenue.
• Recent insider sales included significant transactions by the CFO and CTO, indicating a 4.52% and 7.17% decrease in their respective holdings.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

AEVA has been the topic of a number of other reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeva Technologies in a report on Wednesday, October 8th. Oppenheimer upped their price objective on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their price objective on Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

Aeva Technologies Price Performance

Shares of NASDAQ AEVA opened at $16.47 on Friday. The stock's fifty day moving average price is $15.44 and its two-hundred day moving average price is $17.09. Aeva Technologies has a one year low of $2.52 and a one year high of $38.80. The firm has a market cap of $927.76 million, a price-to-earnings ratio of -2.99 and a beta of 2.02.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. The firm had revenue of $5.51 million during the quarter, compared to analyst estimates of $3.40 million. On average, equities analysts anticipate that Aeva Technologies will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 36,658 shares of the company's stock in a transaction dated 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 $10,681,917.60. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $13.48, for a total transaction of $3,370,000.00. Following the sale, the chief technology officer directly 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 disclosure for this sale can be found here. Insiders sold 646,658 shares of company stock valued at $8,698,680 over the last quarter. 27.20% of the stock is owned by company insiders.

Institutional Trading of Aeva Technologies

Several institutional investors and hedge funds have recently modified their holdings of AEVA. GAMMA Investing LLC lifted its position in shares of Aeva Technologies by 92.2% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after buying an additional 415 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Aeva Technologies during the 2nd quarter worth $36,000. Jones Financial Companies Lllp lifted its position in shares of Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after buying an additional 5,469 shares during the last quarter. Total Investment Management Inc. bought a new stake in shares of Aeva Technologies during the 2nd quarter worth $43,000. Finally, AlphaQuest LLC bought a new stake in shares of Aeva Technologies during the 2nd quarter worth $51,000. 62.92% of the stock is currently owned by institutional investors.

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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