Aeva Technologies (NASDAQ:AEVA) Trading 10.2% Higher - Should You Buy?

Key Points

• Shares of Aeva Technologies were up 10.2% on Friday, trading around $16.27 with mid-day volume of 774,621 shares, well below the average session volume.
• Analysts have a consensus rating of Hold with a consensus target price of $26.50, based on three Buys, one Hold and one Sell.
• The company's CFO sold 32,079 shares (about a 5.1% reduction in his position); insiders own 27.2% of the stock while institutions/hedge funds own roughly 62.9%.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) shares traded up 10.2% on Friday . The company traded as high as $16.33 and last traded at $16.27. 774,621 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 2,470,205 shares. The stock had previously closed at $14.76.

Analyst Ratings Changes

A number of equities research analysts recently commented on AEVA shares. Wall Street Zen upgraded shares of Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Aeva Technologies in a report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Aeva Technologies has an average rating of "Hold" and a consensus target price of $26.50.

Aeva Technologies Stock Up 6.6%

The stock's fifty day moving average is $13.90 and its 200 day moving average is $14.44. The company has a current ratio of 4.28, a quick ratio of 4.12 and a debt-to-equity ratio of 7.32. The company has a market capitalization of $990.17 million, a P/E ratio of -3.10 and a beta of 2.10.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 32,079 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $13.94, for a total transaction of $447,181.26. Following the completion of the sale, the chief financial officer directly owned 595,677 shares in the company, valued at $8,303,737.38. This represents a 5.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 27.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Aeva Technologies during the 2nd quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Aeva Technologies during the 4th quarter valued at $33,000. Daiwa Securities Group Inc. purchased a new position in Aeva Technologies during the 2nd quarter valued at $100,000. Caitong International Asset Management Co. Ltd purchased a new position in Aeva Technologies during the 4th quarter valued at $47,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Aeva Technologies during the 3rd quarter valued at $57,000. 62.92% of the stock is owned by hedge funds and other 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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